Waitr is officially a publicly traded company on the NASDAQ exchange—under the ticker symbol WTRH and for $11.92 per share as of this afternoon—following the completion of a $308 million purchase of the company by Landcadia Holdings.
Stockholders of the special purpose acquisition company owned by Houston billionaire Tilman Fertitta approved the acquisition on Thursday and shares of Waitr began trading this morning. The acquisition was initially announced in May.
“I believe they are the best-in-class, on-demand food ordering and delivery partner for customers and restaurants,” Fertitta says of Waitr in a prepared statement. “They are also positioned well to take advantage of the massive unpenetrated market for online delivery, particularly in secondary markets.”
Waitr founder and CEO Chris Meaux and the rest of the Waitr executive team will continue in their respective roles for the combined company. Meaux will also serve as chairman of the combined company’s board of directors.
Fertitta, co-founder of Landcadia, will serve as a director of the combined company and will be in a position to oversee its growth and brand building.
Landcadia has now changed its name to Waitr Holdings Inc.
The $308 million deal was hatched in just three weeks earlier this year, and included the company paying Meaux and his partners $50 million in cash and $258 million in stock.