Jamba, Inc. today announced the completion of the merger between Services Acquisition Corp. International (“SACI”) and Jamba Juice Company. Under terms of the agreement and plan of merger, dated March 10, 2006 (as amended), SACI acquired all of the outstanding securities of Jamba Juice Company and Jamba Juice Company has become a wholly-owned subsidiary of SACI. The company has changed its name to Jamba, Inc.
Steve Berrard, chairman, and Paul Clayton, CEO, of Jamba Inc. jointly commented, “We are extremely excited about the completion of the merger and we look forward to sharing more about our business plan and growth strategy in the future. It’s been a long road to get to this point, but one we believe will be particularly rewarding for all of our core constituent--shareholders, team members and customers. We now have the financial flexibility to execute our growth strategy and build on Jamba Juice’s leadership position in the premium, made-to-order, healthy blended beverages marketplace, by capitalizing on consumer health, nutritional and lifestyle trends.”
As previously announced, NASDAQ has approved the listing of the company’s common stock, units and warrants for trading on the NASDAQ Global Market. The company’s common stock, units and warrants will commence trading at the open of business today under the following symbols: