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Opes Acquisition Corp. (OPES)

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Previous Close13.88
Open13.72
Bid14.08 x 1100
Ask14.18 x 1400
Day's Range13.63 - 14.21
52 Week Range9.57 - 19.92
Volume90,340
Avg. Volume200,738
Market Cap108.171M
Beta (5Y Monthly)0.17
PE Ratio (TTM)N/A
EPS (TTM)-0.23
Earnings DateN/A
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Ex-Dividend DateN/A
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  • Opes Acquisition Corp. Announces Special Stockholders Meeting to Approve Business Combination With BurgerFi on December 15, 2020
    GlobeNewswire

    Opes Acquisition Corp. Announces Special Stockholders Meeting to Approve Business Combination With BurgerFi on December 15, 2020

    \- Stockholders are Encouraged to Submit Their Vote Prior to the Special Meeting - \- This Vote is Separate from the Previous Vote Relating to the Extension Amendment -MIAMI, Dec. 01, 2020 (GLOBE NEWSWIRE) -- OPES Acquisition Corp. (Nasdaq: OPES) (“OPES” or the “Company”) is announcing that it has set December 15, 2020, as the date of its special meeting of stockholders (the “Special Meeting”) to approve the previously announced business combination (the “Business Combination”) with BurgerFi International, LLC. (“BurgerFi”).Notice of the Special Meeting, together with the definitive proxy statement relating to the Special Meeting, is expected to be mailed on or about December 2, 2020, to stockholders of record as of the close of business on November 24, 2020 (the “Record Date”).The Special Meeting will be conducted via teleconference. Stockholders will be able to attend the meeting by using the following dial-in information:US/CANADA Toll-Free Dial-In Number: (833) 962-1457 US/CANADA International Dial-In Number: (956) 394-3594 Conference ID: 4768828Your vote is important no matter how many shares you own. You are encouraged to submit your vote as soon as possible. If you hold your shares in an account at a brokerage firm, bank or other similar agent, you may vote prior to the meeting by using your voting control number and instructions provided by your brokerage firm, bank or other similar agent. If you are a stockholder of record, you may vote prior to the special meeting by signing, dating, and mailing your proxy card in the return envelope provided with your proxy material.The closing of the Business Combination is subject to approval by OPES’s stockholders and the satisfaction of other customary closing conditions and is expected to close as soon as practicable following the Special Meeting. Following the closing, Opes Acquisition Corp. will change its name to BurgerFi International, Inc.About BurgerFiEstablished in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 125 BurgerFi restaurants domestically and internationally. The concept was chef-founded and is committed to serving fresh food of transparent quality. BurgerFi uses 100% natural American angus beef with no steroids, antibiotics, growth hormones, chemicals, or additives. BurgerFi placed in the top 10 on Fast Casual's Top 100 Movers & Shakers list in 2020, was named "Best Burger Joint" by Consumer Reports and fellow public interest organizations in the 2019 Chain Reaction Study, listed as a "Top Restaurant Brand to Watch" by Nation's Restaurant News in 2019, included in Inc. Magazine's 2015 Fastest Growing Private Companies List, and ranked on Entrepreneur's 2017 Franchise 500. To learn more about BurgerFi or to find a full list of locations, please visit www.burgerfi.com, 'Like' BurgerFi on Facebook or follow @BurgerFi on Instagram and Twitter.BurgerFi® is a Registered Trademark of BurgerFi IP, LLC, a wholly-owned subsidiary of BurgerFi.About OPES Acquisition Corp. OPES Acquisition Corp. (Nasdaq: OPES, OPESW) is a special purpose acquisition company headquartered in Miami and organized for the purpose of effecting a merger, asset acquisition, stock purchase or other similar business combination with one or more businesses or entities. For more information, please visit www.opesacquisitioncorp.com.Forward Looking Statements The information herein contains certain “forward-looking statements” within the meaning of “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “shall,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” “forecast,” “intend,” “plan,” “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Examples of forward-looking statements include, among others, statements made herein regarding the proposed transactions contemplated by the Membership Interest Purchase Agreement, including the benefits of the Business Combination, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the Business Combination. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on OPES’s and BurgerFi’s managements’ current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) risks related to the timing of the completion of the Business Combination, (ii) the ability to satisfy the various conditions to the closing of the Business Combination set forth in the Membership Interest Purchase Agreement, (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the Membership Interest Purchase Agreement, (iv) the risk that there may be a material adverse effect on the business, properties, assets, liabilities, results of operations or condition (financial or otherwise), of BurgerFi or its subsidiaries or franchisees, taken as a whole; (v) risks related to disruption of management time from ongoing business operations due to the proposed Business Combination; (vi) the risk that any announcements relating to the proposed Business Combination could have adverse effects on the market price of OPES’s common stock; (vii) the amount of redemption requests made by OPES’s stockholders; and (viii) other risks and uncertainties indicated from time to time in the final prospectus of OPES for its initial public offering dated March 13, 2018 filed with the SEC and the definitive proxy statement on Schedule 14A filed with the SEC on December 1, 2020, relating to the proposed Business Combination, including those under “Risk Factors” therein, and in OPES’s other filings with the SEC. OPES cautions that the foregoing list of factors is not exclusive. OPES and BurgerFi caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. OPES and BurgerFi do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based.Important Information about the Business Combination and Where to Find It On June 29, 2020, OPES Acquisition Corp. (“OPES”) and BurgerFi International, LLC (“BurgerFi”) entered into a Membership Purchase Agreement, as subsequently amended, pursuant to which OPES shall acquire 100% of the membership interests of BurgerFi (the “Business Combination”). In connection with the Business Combination, on December 1, 2020, OPES filed with the SEC the definitive proxy statement on Schedule 14A (the “Definitive Proxy Statement”) relating to the Business Combination. OPES will file any other relevant documents in connection with the Business Combination with the SEC. OPES will mail the Definitive Proxy Statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the Business Combination. INVESTORS AND STOCKHOLDERS OF OPES ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT OPES WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OPES, BURGERFI, AND THE BUSINESS COMBINATION. The Definitive Proxy Statement and other relevant materials in connection with the Business Combination (when they become available), and any other documents filed by OPES with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to OPES at: 4218 NE 2nd Avenue, Miami, FL 33137.No Offer or Solicitation This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act.Participants in the Solicitation OPES and its directors and executive officers may be deemed participants in the solicitation of proxies from OPES’s stockholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in OPES are included in the Definitive Proxy Statement at www.sec.gov. Information about OPES’s directors and executive officers and their ownership of OPES common stock is set forth in OPES’s prospectus, dated March 13, 2018, OPES’s Annual Report on Form 10-K, dated March 30, 2020 and the Definitive Proxy Statement, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation is included in the Definitive Proxy Statement. These documents can be obtained free of charge from the sources indicated above.BurgerFi and its members and managers may also be deemed to be participants in the solicitation of proxies from the stockholders of OPES in connection with the proposed Business Combination. A list of the names of such members and managers and information regarding their interests in the proposed Business Combination are included in the Definitive Proxy Statement.OPES Investor Relations Contact: Gateway Investor Relations Cody Slach (949) 574-3860 OPES@gatewayir.comCompany Contacts:OPES Ashley Spitz, ashley@opesacquisitioncorp.comBurgerFi International Crystal Rosatti, crystal@burgerfi.com

  • OPES Acquisition Corp.’s Business Combination Target, BurgerFi, Reports Preliminary Third Quarter 2020 Financial Results
    GlobeNewswire

    OPES Acquisition Corp.’s Business Combination Target, BurgerFi, Reports Preliminary Third Quarter 2020 Financial Results

    PALM BEACH, Fla., Nov. 10, 2020 (GLOBE NEWSWIRE) -- OPES Acquisition Corp.’s (Nasdaq: OPES) business combination target, BurgerFi International (BurgerFi), is reporting preliminary financial results for the third quarter ended September 30, 2020. The preliminary results are subject to completion of BurgerFi’s quarterly financial reporting process and the preparation of the unaudited financial statements for the quarter. BurgerFi currently expects total revenue for the third quarter of 2020 to be in the range of $9 million to $9.2 million compared to $8 million in the second quarter of 2020 and $8.2 million in the third quarter of 2019. BurgerFi had seven new restaurant openings year-to-date through September 30, 2020, with plans to open an additional six new restaurants in the fourth quarter ended December 31, 2020.DELIVERY METRICS     Year-Over-Year Delivery Sales2019 vs 2020  July +76%  August +154%  September +91%      Totals in 3rd Party Delivery YTD \+ BurgerFi AppJuly 1, 2020 to September 30, 2020 * 476,000+ orders * $11.5 million total sales   * +55% in order volume * +80% in sales volume “BurgerFi is a remarkable partner for OPES and we believe it will prove to be an attractive public company given its unique positioning within the rapidly expanding ‘better burger’ space,” said Ophir Sternberg, Chairman & CEO of OPES Acquisition Corp. “We look forward to consummating the business combination and expect BurgerFi to continue to show tremendous shareholder value.”Julio Ramirez, newly appointed BurgerFi CEO, stated: “Strategic and focused development and organic growth are key to expanding successfully. Our deliberate growth plan enhances digital guest experiences, provides an eco-friendly footprint, leverages our team members’ proactive attitude towards service, and has a single-minded operational focus on delivering great tasting hand-crafted food.”Commenting on BurgerFi’s performance, President Charlie Guzzetta said: “BurgerFi has continued to dominate the ‘better for you’ segment with outstanding quality. We are currently developing best-in-industry advances in technology, optimizing our digital ordering channels to ensure our service is not only outstanding, but safe and meets all guests’ individual preferences.”About OPES Acquisition Corp. OPES Acquisition Corp. (Nasdaq: OPES, OPESW) is a special purpose acquisition company headquartered in Miami and organized for the purpose of effecting a merger, asset acquisition, stock purchase or other similar business combination with one or more businesses or entities. For more information, please visit www.opesacquisitioncorp.com.About BurgerFi Established in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 125 BurgerFi restaurants domestically and internationally. The concept was chef-founded and is committed to serving fresh food of transparent quality. BurgerFi uses 100% natural American angus beef with no steroids, antibiotics, growth hormones, chemicals or additives. BurgerFi placed in the top 10 on Fast Casual's Top 100 Movers & Shakers list in 2020, was named "Best Burger Joint" by Consumer Reports and fellow public interest organizations in the 2019 Chain Reaction Study, listed as a "Top Restaurant Brand to Watch" by Nation's Restaurant News in 2019, included in Inc. Magazine's Fastest Growing Private Companies List, and ranked on Entrepreneur's 2017 Franchise 500. To learn more about BurgerFi or to find a full list of locations, please visit www.burgerfi.com, 'Like' BurgerFi on Facebook or follow @BurgerFi on Instagram and Twitter.BurgerFi® is a Registered Trademark of BurgerFi IP, LLC, a wholly-owned subsidiary of BurgerFi.DisclaimerOPES and BurgerFi, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of OPES common stock with respect to the proposed transaction between OPES and BurgerFi (the “Business Combination”). Information about OPES’s directors and executive officers and their current ownership of OPES’s shares of common stock is set forth in the preliminary proxy statement on Schedule 14A initially filed with the Securities and Exchange Commission (the “SEC”) on September 25, 2020, and the revised preliminary proxy statements on Schedule 14A filed on October 27, 2020 and November 6, 2020, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filings. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the Business Combination when it becomes available. These documents can be obtained free of charge from the sources indicated below.In connection with the Business Combination, on September 25, 2020, OPES filed with the SEC, the initial preliminary proxy statement on Schedule 14A, and on October 27, 2020 and November 6, 2020, OPES filed revised preliminary proxy statements on Schedule 14A, which included, among other proposals, the proposal to approve the Business Combination, and OPES continues to file other relevant materials with the SEC. Promptly after filing its definitive proxy statement relating to the Business Combination with the SEC, OPES will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the Business Combination, and other proposals. INVESTORS AND SECURITY HOLDERS OF OPES ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT OPES WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OPES, BURGERFI, AND THE BUSINESS COMBINATION. The preliminary proxy statement, the definitive proxy statement and other relevant materials in connection with the Business Combination (when they become available), and any other documents filed by OPES with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to OPES at: 4218 NE 2nd Avenue, Miami, FL 33137.Forward-Looking Statements:This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the identification of a target business and potential business combination or other such transaction, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section entitled “Risk Factors” in the annual report on Form 10-K filed by OPES on March 30, 2020. Important factors, among others, that may affect actual results or outcomes include: the inability to complete the proposed transaction; the inability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, the amount of cash available following any redemptions by OPES stockholders; the ability to meet the listing standards of the securities exchange following the consummation of the proposed transaction; and costs related to the proposed transaction. Important factors that could cause the combined company’s actual results or outcomes to differ materially from those discussed in the forward-looking statements include: BurgerFi’s limited operating history; BurgerFi’s ability to manage growth; BurgerFi’s ability to execute its business plan; BurgerFi’s estimates of the size of the markets for its products; the rate and degree of market acceptance of BurgerFi’s products; BurgerFi’s ability to identify and integrate acquisitions; potential litigation involving OPES or BurgerFi or the validity or enforceability of BurgerFi’s intellectual property; general economic and market conditions impacting demand for BurgerFi’s products and services; and such other risks and uncertainties as are discussed in the proxy statement to be filed relating to the Business Combination. Other factors include the possibility that the proposed Business Combination does not close, including due to the failure to receive required stockholder approval, or the failure of other closing conditions.OPES expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.Investor Relations Contact: Gateway Investor Relations Cody Slach (949) 574-3860 OPES@GatewayIR.comCompany Contacts: OPES Ashley Spitz, ashley@opesacquisitioncorp.comBurgerFi International Crystal Rosatti, crystal@burgerfi.comMedia Relations Contact: Quinn PR Laura Neroulias, LNeroulias@quinn.pr

  • BurgerFi Names Burger-Industry Veteran Julio Ramirez as CEO
    GlobeNewswire

    BurgerFi Names Burger-Industry Veteran Julio Ramirez as CEO

    BurgerFi Appoints Former Chief Operations Officer for Global Operations at Burger King to Lead Company Through its Next Chapter of Growth BurgerFi Names Burger-Industry Veteran Julio Ramirez as CEO BurgerFi Appoints Former Chief Operations Officer for Global Operations at Burger King to Lead Company Through its Next Chapter of GrowthPALM BEACH, Fla., Oct. 16, 2020 (GLOBE NEWSWIRE) -- OPES Acquisition Corp.’s (NASDAQ: OPES) business combination target, BurgerFi International, has named Julio Ramirez, Chief Executive Officer. Ramirez has nearly three decades of experience in the burger industry having previously served in several senior positions at Burger King Corporation, a Restaurant Brands International Inc. subsidiary, including President of the Latin America/Mexico/Caribbean division, Senior Executive of Franchise Operations and Development in North America, and Executive Vice President/Chief Operations Officer. “BurgerFi has continued to lead the space with powerful leadership and Julio’s expertise will allow us to continue to grow within the ‘better burger’ segment,” said Ophir Sternberg, Chairman & CEO of OPES Acquisition Corp. “There is a strong market and a captive audience for fast-casual experiences. Development strategies and tactics will be key, and BurgerFi has a scalable model to grow exponentially into more locations through top institutional developers, unique growth vehicles like ghost kitchens and working with successful multi-brand operators.”Upon leaving Burger King in 2011, Ramirez founded JEM Global, Inc., a company that specializes in assisting QSR and fast-casual brands’ with franchising and development efforts domestically and internationally. Ramirez consulted Dunkin’ Brands on its Brazil entry strategy and Buffalo Wings & Rings on its Mexico development strategy. He set up four new franchise groups in Mexico and Colombia for “100 Montaditos”, a Madrid-based Andalusian restaurant expanding into the Americas. He was also co-owner of Giardino Gourmet Salads, South Florida’s premier fast-casual concept, helping to grow the brand in Miami, Fort Lauderdale and Naples, Florida.Ramirez is highly regarded for his ability to build franchise relationships, having led Burger King’s field marketing across North America throughout the mid-1990s as part of Burger King’s successful “Back to Basics” campaign, which attained positive comparable sales for several years. In the early 2000s, he effectively managed over 1,100 franchisees in North American operations and led several key working committees, including franchise relations, operations technology and restaurant finance.Ramirez introduced the Burger King brand in over 10 countries throughout Latin America, effectively establishing the supply chain, selecting outstanding franchisees, and building a team that opened more restaurants than McDonald's (MCD) in 16 of 25 countries. In Brazil, for example, he developed a local team that assembled an effective supply source, signed ten franchisees in a regional network, opened an office in Sao Paulo and successfully launched the brand with an impactful marketing campaign—all of which resulted in Burger King’s first 60 Brazilian locations yielding annual sales substantially greater than the US average, in the face of tough local competition. In Mexico, he built a team that surpassed both MCD’s and KFC’s unit development, opening over 400 restaurants throughout the country.“Today’s consumers demand an outstanding guest experience on each visit and BurgerFi not only delivers strong on its service but also owns the outstanding quality and ‘better burger’ segment,” said Julio Ramirez, newly-appointed CEO of BurgerFi. “BurgerFi has several unique brand differentiators with its premium natural ingredients, technology enhanced infrastructure and commitment to sustainability that has the potential to capture significant market share, both nationally and internationally, through a highly scalable model. I look forward to leading the team through its next chapter of expansion and the continued evolution of the brand.”Ramirez holds a MBA from the University of Georgia. He has also completed the Advanced Management Program from the Wharton School of Business at the University of Pennsylvania. He served as an Executive Board Member of United Way of Miami-Dade County, was a founding member of the Burger King “Have it your Way” Foundation and is currently a member of the prestigious Orange Bowl Committee. Ramirez was an external director at Grupo Intur – the largest franchisee of American QSR brands in Central America with over 200 locations of 8 different brands across several nations.In celebration of Julio Ramirez’s appointment as CEO and in conjunction with National Boss’s Day, today Friday, October 16th, BurgerFi will be offering the gourmet CEO Burger paired with its urban-style fries as a $10 pairing. Visit www.burgerfi.com to find the nearest participating location. About OPES Acquisition Corp. OPES Acquisition Corp. (NASDAQ: OPES, OPESW) is a special purpose acquisition company headquartered in Miami and organized for the purpose of effecting a merger, asset acquisition, stock purchase or other similar business combination with one or more businesses or entities. For more information, please visit www.opesacquisitioncorp.com.About BurgerFi Established in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 125 BurgerFi restaurants domestically and internationally. The concept was chef-founded and is committed to serving fresh food of transparent quality. BurgerFi uses 100% natural American angus beef with no steroids, antibiotics, growth hormones, chemicals or additives. BurgerFi placed in the top 10 on Fast Casual's Top 100 Movers & Shakers list in 2020, was named "Best Burger Joint" by Consumer Reports and fellow public interest organizations in the 2019 Chain Reaction Study, listed as a "Top Restaurant Brand to Watch" by Nation's Restaurant News in 2019, included in Inc. Magazine's Fastest Growing Private Companies List, and ranked on Entrepreneur's 2017 Franchise 500. To learn more about BurgerFi or to find a full list of locations, please visit www.burgerfi.com, 'Like' BurgerFi on Facebook or follow @BurgerFi on Instagram and Twitter. BurgerFi® is a Registered Trademark of BurgerFi IP, LLC, a wholly-owned subsidiary of BurgerFi. DisclaimerOPES and BurgerFi, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of OPES common stock with respect to the proposed transaction between OPES and BurgerFi (the “Business Combination”). Information about OPES’s directors and executive officers and their current ownership of OPES’s shares of common stock is set forth in the preliminary proxy statement on Schedule 14A filed with the Securities and Exchange Commission (the “SEC”) on September 25, 2020, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the Business Combination when it becomes available. These documents can be obtained free of charge from the sources indicated below.In connection with the Business Combination, on September 25, 2020, OPES filed with the SEC, the preliminary proxy statement on Schedule 14A, which included, among other proposals, the proposal to approve the Business Combination, and OPES continues to file other relevant materials with the SEC. Promptly after filing its definitive proxy statement relating to the Business Combination with the SEC, OPES will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the Business Combination, and other proposals. INVESTORS AND SECURITY HOLDERS OF OPES ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT OPES WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OPES, BURGERFI, AND THE BUSINESS COMBINATION.  The preliminary proxy statement, the definitive proxy statement and other relevant materials in connection with the Business Combination (when they become available), and any other documents filed by OPES with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to OPES at: 4218 NE 2nd Avenue, Miami, FL 33137.Forward-Looking Statements:This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the identification of a target business and potential business combination or other such transaction, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section entitled “Risk Factors” in the annual report on Form 10-K filed by OPES on March 30, 2020. Important factors, among others, that may affect actual results or outcomes include: the inability to complete the proposed transaction; the inability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, the amount of cash available following any redemptions by OPES stockholders; the ability to meet the listing standards of the securities exchange following the consummation of the proposed transaction; and costs related to the proposed transaction. Important factors that could cause the combined company’s actual results or outcomes to differ materially from those discussed in the forward-looking statements include: BurgerFi’s limited operating history; BurgerFi’s ability to manage growth; BurgerFi’s ability to execute its business plan; BurgerFi’s estimates of the size of the markets for its products; the rate and degree of market acceptance of BurgerFi’s products; BurgerFi’s ability to identify and integrate acquisitions; potential litigation involving OPES or BurgerFi or the validity or enforceability of BurgerFi’s intellectual property; general economic and market conditions impacting demand for BurgerFi’s products and services; and such other risks and uncertainties as are discussed in the proxy statement to be filed relating to the Business Combination. Other factors include the possibility that the proposed Business Combination does not close, including due to the failure to receive required stockholder approval, or the failure of other closing conditions.OPES expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.Investor Relations Contact: Gateway Investor Relations Cody Slach (949) 574-3860 OPES@GatewayIR.comCompany Contacts: OPES Ashley Spitz, ashley@opesacquisitioncorp.comBurgerFi International Crystal Rosatti, crystal@burgerfi.comMedia Relations Contact: Quinn PR Laura Neroulias, LNeroulias@quinn.prA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68d32331-a61f-45f1-9e1c-70bf629c57a6