New York, New York, UNITED STATES
Total bowling center revenue for the nine weeks ended November 28, 2021 grew 20.3% to $134 million versus pre-pandemic levels in the corresponding period of calendar 2019
Four new bowling centers added to Bowlero’s portfolio, thus growing operating center count to 314
Rebranded two iconic New York City Bowlmor Lanes venues to Bowlero
RICHMOND, Va., Dec.  07, 2021  (GLOBE NEWSWIRE) -- Bowlero Corp., the world’s largest owner and operator of bowling centers, and owner of the Professional Bowlers Association (“Bowlero”), has announced that it grew revenue in the first nine weeks of fiscal Q2 by more than 20%, while growing same store sales by 8.7% ahead of its plans to list on the NYSE through a merger with Isos Acquisition Corporation (NYSE: ISOS.U, “Isos”) later this quarter. Upon the closing of the transaction with Isos, Bowlero’s common stock and warrants are expected to trade on NYSE under the new ticker symbols “BOWL” and “BOWL WS”. Bowlero Corp., which announced Q1 results on November 15, 2021, continues to outpace pre-pandemic performance. In the nine weeks ended November 28, Bowlero Corp. increased total center revenue 20.3% to $134 million. Bowlero Corp. also grew its bowling center portfolio by adding four new bowling centers in the United States – consisting of two acquisitions of centers in Spring Hill Lanes in Spring Hill, FL, and Stars in Vacaville, CA, and the opening of two newly constructed locations in Oxnard, CA and Tysons, VA.
“Through the first nine weeks of fiscal Q2, we are continuing to see substantial sales gains from pre-pandemic levels,” said Brett Parker, President and CFO of Bowlero Corp. “Strong same store performance along with unit additions continue to drive our excellent performance.”
Bowlero Corp. also recently announced the rebranding of its two iconic New York City venues from Bowlmor Lanes to its premium Bowlero brand. The transition of the two Manhattan locations, in Times Square and Chelsea Piers, exemplify Bowlero Corp.’s brand unification strategy, in which the three remaining Bowlmor Lanes locations in Atlanta, GA, Cupertino, CA., and Scottsdale, AZ will ultimately join 151 premium Bowlero centers and 160 traditional centers. “It’s another historic chapter for Bowlero Corp. to have our flagship New York City centers join the Bowlero brand,” said Colie Edison, Chief Customer Officer for Bowlero Corp. “The Bowlero brand represents the future of bowling; one that is rooted in the rich history of the sport and embraces the vibrant future of the industry. We look forward to continuing to deliver the best in bowling entertainment to our beloved New York guests; many of whom have grown up in our centers and are now introducing the love of the game, and the experience, to the next generation.”
About Bowlero Corp.
Bowlero Corp. is the worldwide leader in bowling entertainment. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. Bowlero Corp. is also home to the Professional Bowlers Association, which it acquired in 2019 and which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit  BowleroCorp.com . About Isos Acquisition Corporation
Isos Acquisition Corporation (NYSE: ISOS.U) is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Isos is led by Co-Chief Executive Officers George Barrios and Michelle Wilson. For more information on Isos Acquisition Corporation, please visit www.isosacquisitioncorp.com . Forward Looking Statements
Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are generally identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the outcome of any legal proceedings that may be instituted against ISOS, Bowlero or others following announcement of the business combination and the transactions contemplated therein; the inability to complete the transactions contemplated by the business combination due to the failure to obtain approval of the shareholders of Isos or Bowlero or other conditions to closing in the business combination agreement; the risk that the proposed business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, the ability of Bowlero to grow and manage growth profitably, maintain relationships with customers, compete within its industry and retain its key employees; costs related to the proposed business combination; the possibility that Isos or Bowlero may be adversely impacted by other economic, business, and/or competitive factors; the risk that the market for Bowlero’s entertainment offerings may not develop on the timeframe or in the manner that Bowlero currently anticipates; general economic conditions and uncertainties affecting markets in which Bowlero or operates and economic volatility that could adversely impact its business, including the COVID-19 pandemic; the ability of Bowlero to attract new customers and retain existing customers; changes in consumer preferences and buying patterns; inability to compete successfully against current and future competitors in the highly competitive out-of-home and home-based entertainment markets; inability to operate venues, or obtain and maintain licenses and permits necessary for such operation, in compliance with laws, regulations and other requirements; damage to brand or reputation; its ability to successfully defend litigation brought against it; its ability to adequately obtain, maintain, protect and enforce our intellectual property and proprietary rights and claims of intellectual property and proprietary right infringement, misappropriation or other violation by competitors and third parties; failure to hire and retain qualified employees and personnel; fluctuations in Bowlero’s operating results; security breaches, cyber-attacks and other interruptions to its and its third-party service providers’ technological and physical infrastructures; catastrophic events, including war, terrorism and other international conflicts, adverse weather conditions, public health issues or natural catastrophes and accidents; risk of increased regulation of its operations; the projected financial information, anticipated growth rate, and market opportunity of Bowlero; the ability to obtain or maintain the listing of new Bowlero’s Class A common stock and warrants on the NYSE following the completion of the business combination; Isos’s and Bowlero’s public securities’ potential liquidity and trading; future capital needs of Bowlero following the completion of the business combination; the significant uncertainty created by the COVID-19 pandemic and the negative impact of the COVID-19 pandemic on Bowlero; and factors described under the section titled “Risk Factors” in the definitive proxy statement/prospectus filed by Isos with the SEC relating to a potential business combination between Isos and Bowlero, as well as other filings that Isos has or Isos or Bowlero will make with the SEC, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date the statements are made. Neither Isos nor Bowlero assume any obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances or other changes affecting forward-looking information except to the extent required by applicable securities laws. Contacts:

Bowlero Corp. Announces Record Sales and Four New Bowling Centers in Nine Weeks Ended November 28, 2021

Bowling center operator Bowlero Corp to go public in $2.6bn SPAC deal
Bowlero Corp, a New York-based bowling center operator, has agreed to merge with Isos Acquisition Corporation, a special acquisition company (SPAC) in a deal that values the combined company at around $2.6 billion. The merger enables the bowling center operator to become a publicly listed company, which is expected to trade on the New York Stock Exchange (NYSE) under the ticker symbol – BOWL. Bowlero operates nearly 300 bowling centers across North America. In the 12 months ending February 2020, more than 26 million guests are said to have bowled on Bowlero’s 12,000 plus bowling lanes. The company’s brands include Bowlero, AMF , and Bowlmor Lanes. In 2019, the bowling center operator acquired the Professional Bowlers Association, a bowling league with thousands of members and millions of fans around the world. Bowling center operator Bowlero Corp to go public in $2.6bn SPAC deal. Photo courtesy of TenPinGeek/Wikipedia.org. Tom Shannon – Founder, Chairman and CEO of Bowlero said: “Starting with the purchase of the original Bowlmor Lanes in 1997 and its conversion into a Manhattan hotspot, we’ve been revolutionizing the bowling industry, and we’re just getting started. “With our acquisition of the Professional Bowlers Association (PBA) and partnership with FOX Sports, we intend to continue to reenergize the PBA and bring the sport to millions of fans. This transaction will allow us to further expand the Bowlero ecosystem which covers leisure, media and gaming.”
The merger is backed by a private investment in public equity (PIPE) of $450 million. The PIPE investors include funds managed by affiliates of Apollo Global Management, Soros Fund Management, Brigade Capital Management, The Donerail Group, and Wells Fargo Asset Management. George Barrios and Michelle Wilson – Co-CEOs of Isos Acquisition Corporation said: “We view this business combination as highly strategic with committed capital that gives Bowlero even more financial flexibility to execute on organic and inorganic growth plans. We look forward to joining the Bowlero Board and driving shareholder value with the combined experience and network of our two teams.”
The deal, which is subject to Isos Acquisition Corporation’s shareholders and other conditions, is anticipated to close in October 2021.

Bowling center operator Bowlero Corp to go public in $2.6bn SPAC deal

New York, New York, UNITED STATES
Merger with Isos Acquisition Corporation (NYSE: ISOS.U) supports further expansion of Bowlero’s large, profitable and growing business. Pro forma implied enterprise value of the combined company is approximately $2.6 billion. Transaction includes $450 million PIPE anchored by institutional investors including funds managed by affiliates of Apollo Global Management, Inc., Brigade Capital Management, Soros Fund Management LLC, The Donerail Group LP and Wells Fargo Asset Management. Total pre-pandemic trailing twelve months (TTM) through Feb 2020 revenue and EBITDA were $746 million and $201 million, respectively. Revenue and EBITDA for calendar year 2022 are expected to be $859 million and $275 million, respectively. Bowlero’s proven growth plan includes many powerful vectors, such as upgrades and conversions of its current centers, development of greenfield locations and acquisitions. Highly fragmented industry with more than 3,500 independent operators represents an attractive consolidation opportunity to drive further growth. Bowlero bowling center revenue already exceeds pre-pandemic levels despite continued capacity restrictions. Upon closing, the combined company is expected to list on NYSE under the ticker symbol “BOWL”. Investor webcast hosted by Bowlero and Isos management is currently available at www.isosacquisitioncorp.com/investor-relations . RICHMOND, Va. and WESTPORT, Conn., July  01, 2021  (GLOBE NEWSWIRE) -- Bowlero Corp (“Bowlero”), the world’s largest owner and operator of bowling centers as well as owner of the Professional Bowlers Association (PBA), and Isos Acquisition Corporation (NYSE: ISOS.U., “Isos”), today announced a definitive agreement for a business combination that would result in Bowlero becoming a publicly listed company. Upon closing of the transaction, the combined company will be named “Bowlero” and its common stock and warrants are expected to trade on NYSE under the new ticker symbols “BOWL” and “BOWL WS”, respectively. The pro forma implied enterprise value of the combined company is approximately $2.6 billion. Once the transaction closes, Bowlero will continue to be led by its existing management team and is expected to have a nine-person board composed of a majority of independent directors. The transaction supports the continued expansion of Bowlero’s footprint in the $4.5 billion total addressable U.S. bowling market – which has grown 50% over last decade – while becoming the dominant player in the $11 billion global bowling market and grabbing a growing piece of the $100 billion global out-of-home entertainment market. Bowlero has a significant opportunity to accelerate already robust organic growth by developing greenfield locations, acquisitions and upgrading and converting current centers. The opportunity to upgrade about 180 of Bowlero’s centers which are yet to receive significant investment provides an ample runway for continued high returns on internal investments. Bowling is the largest participatory sport in the U.S. with approximately 70 million people bowling each year. Moreover, bowling is a highly fragmented industry with about 3,500 independent operators in the U.S. alone, which represents an attractive consolidation opportunity to drive further growth. Bowlero operates approximately 300 bowling centers in North America – nearly eight times more centers than its nearest rival - including facilities carrying the Bowlero, Bowlmor Lanes, and AMF brands. Over 26 million guests bowled on Bowlero’s more than 12,000 bowling lanes in the 12 months ending February 2020. Bowlero bowling centers’ average annual revenue is more than double the industry average. “Starting with the purchase of the original Bowlmor Lanes in 1997 and its conversion into a Manhattan hotspot, we’ve been revolutionizing the bowling industry, and we’re just getting started,” said Tom Shannon, Founder, Chairman and Chief Executive Officer of Bowlero. “With our acquisition of the Professional Bowlers Association (PBA) and partnership with FOX Sports, we intend to continue to reenergize the PBA and bring the sport to millions of fans. This transaction will allow us to further expand the Bowlero ecosystem which covers leisure, media and gaming.”
Bowlero has other additional growth opportunities around the engagement and monetization of media, gamification and sports betting. With more than 70 hours per year of original first-run linear programming on Fox, the PBA had more than 23 million viewers in 2020, its largest viewing audience ever, despite Covid-related production limitations. Bowlero is adding or upgrading arcades at its centers, more than 230 of which already have them. The firm also plans to further amplify revenue through recurring tournaments powered by an exclusive technology partnership for real-time scoring across all participating Bowlero locations, app-based scoring integration to allow bowlers to make wagers and win prizes, as well as further brand integration with sportsbook partners. “As the global leisure industry continues its strong rebound from last year, the strength of our brand and business model leave us extremely well-positioned to benefit. Since pandemic capacity restrictions have started to lift, location revenue has sharply rebounded to greater than pre-pandemic levels despite continued restrictions in certain locations,” said Brett Parker, Bowlero’s President and Chief Financial Officer. “We anticipate that EBITDA will grow at more than an 11% (CAGR) through 2023 from pre-pandemic levels, with normalized EBITDA margins north of 30% as we further grow the business and execute our plan.”
Average revenue and EBITDA per center increased 8% and 13% per year, respectively, between fiscal year 2016 and pre-pandemic TTM Feb 2020. Store level margins for calendar year 2022 are projected to be 38.2%. Total company EBITDA margin for calendar year 2022 is projected to be 32.6%. Bowlero has bowling centers in highly attractive markets across North America with 286 in the U.S., 7 in Mexico, 2 in Canada and another 26 signed or under a letter of intent. More than 70% of the firm’s revenue is generated in the top 25 metropolitan areas of North America or adjacent areas. George Barrios and Michelle Wilson, Co-CEOs of Isos Acquisition Corporation stated, “We are excited about the incredible business that Tom and Brett have expertly built. They have created a branded community poised for long-term growth driven by global demand for premium live experiences augmented by engagement opportunities across leisure, media, and gaming. We view this business combination as highly strategic with committed capital that gives Bowlero even more financial flexibility to execute on organic and inorganic growth plans. We look forward to joining the Bowlero Board and driving shareholder value with the combined experience and network of our two teams.”
Transaction Overview
The business combination values Bowlero at an implied $2.6 billion pro forma enterprise value. A $450 million fully committed PIPE transaction consisting of convertible preferred and common stock has been secured in consideration for $345 million in cash and $105 million of Atairos’ existing equity in Bowlero, anchored by investors including funds managed by affiliates of Apollo Global Management, Inc., Brigade Capital Management, Soros Fund Management LLC, The Donerail Group LP and Wells Fargo Asset Management. The perpetual convertible preferred stock has a 5.5% dividend and a conversion price of $13.00 and mandatorily converts into common stock after two years if the common share price is at least $16.90. The transaction will provide cash to repurchase a portion of its existing equity and leave Bowlero with adequate cash to fund its operations and growth. The boards of directors of both Bowlero and Isos have approved the proposed transaction, which is expected to be completed in October 2021, subject to, among other things, the approval by Isos’ stockholders and satisfaction or waiver of the other conditions stated in the definitive documentation. Additional information about the proposed transaction, including a copy of the business combination agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Isos with the Securities and Exchange Commission, which can be accessed at www.sec.gov as well as online at www.isosacquisitioncorp.com/investor-relations . Advisors
J.P. Morgan Securities LLC is serving as financial advisor to Bowlero. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Bowlero. Davis Polk is acting as legal advisor to Atairos, a significant current holder of Bowlero’s equity. Proskauer is acting as legal advisor to management. LionTree Advisors LLC is serving as financial advisor and placement agent to Isos. J.P. Morgan Securities LLC is acting as lead placement agent and capital markets advisor to Isos. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to J.P. Morgan Securities LLC and LionTree Advisors LLC in their capacities as placement agents. Hughes Hubbard & Reed LLP is acting as legal advisor to Isos. Investor Webcast Information
Listeners may access an investor webcast hosted by Bowlero and Isos management. The webcast is accessible in the Investor Relations section of the Isos website at www.isosacquisitioncorp.com/investor-relations . About Bowlero Corp
Bowlero Corp is the worldwide leader in bowling entertainment, media, and events. With more than 300 bowling centers across North America, Bowlero Corp serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp, please visit  BowleroCorp.com . About Isos Acquisition Corporation
Isos Acquisition Corporation (NYSE: ISOS.U) is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company is led by Co-Chief Executive Officers George Barrios and Michelle Wilson. For more information on Isos Acquisition Corporation, please visit www.isosacquisitioncorp.com . Important Information and Where to Find It
This press release relates to a proposed transaction between Isos and Bowlero. Isos intends to file a registration statement (“Registration Statement”), which will include a proxy statement for the solicitation of Isos shareholder approval and a prospectus for the offer and sale of Isos securities in the transaction, and other relevant documents with the Securities and Exchange Commission (“SEC”) to be used at its extraordinary general meeting of shareholders to approve the proposed transaction with Bowlero. The proxy statement will be mailed to shareholders as of a record date to be established for voting on the proposed business combination. INVESTORS AND SECURITY HOLDERS OF ISOS AND BOWLERO ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT, PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement, proxy statement, prospectus and other documents containing important information about Isos and Bowlero once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov . In addition, investors and security holders will be able to obtain free copies of the documents filed with the SEC by Isos in the Investor Relations section of Isos’ website at www.isosacquisitioncorp.com/investor-relations . Participants in the Solicitation
Isos, Bowlero and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies of Isos’s shareholders in connection with the proposed transaction. Investors and securityholders may obtain more detailed information regarding the names and interests in the proposed transaction of Isos’ directors and officers in Isos’ filings with the SEC, including the forthcoming proxy/prospectus statement and Isos’ prospectus in connection with its initial public offering, which was filed with the SEC on March 4, 2021. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Isos’ shareholders in connection with the proposed business combination will be set forth in the Registration Statement for the proposed business combination when available. No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transactions. This communication 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 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 of 1933, as amended (the “Securities Act”). Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transactions and CF III. Isos’ and Bowlero’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Isos’ and Bowlero’s expectations with respect to future performance and anticipated financial impacts of the proposed transaction. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Isos’ and Bowlero’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the approvals, timing, and ability to complete the proposed business combination; (2) the benefits of the proposed business combination, including future financial and operating results of the combined company; (3) the impact of COVID-19 or other adverse public health developments; (4) costs related to the proposed business combination; (5) changes in applicable laws or regulations; (6) the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties that will be detailed in the proxy statement/prospectus to be filed on Form S-4 with the SEC and as indicated from time to time in Isos’ filings with the SEC. Forward looking statements speak only as of the date they are made. Except as required by law, neither Isos nor Bowlero has any intention or obligation to update or to publicly announce the results of any revisions to any of the forward-looking statements to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. Contacts:

Bowlero, World’s Largest Owner and Operator of Bowling Centers and Owner of the Professional Bowlers Association, to List on NYSE Through Merger With Isos Acquisition Corporation

June 13, 2017 12:49 p.m. Updated 06/13/2017
At Manhattan's Bowlmor Lanes condos, the big spenders are locals
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Photo: Propertyshark.com
The original Bowlmar Lanes at the corner of 12th Street and University Place. The building has been razed to make way for new luxury condos. How do you offload luxury condos in Manhattan, where there’s a glut of offerings and the foreign investors have disappeared? You attract the locals. Billy Macklowe’s Greenwich Village tower, rising at the site of the former Bowlmor Lanes, booked more than $60 million in contracts last month—including the sale of two duplexes to a single buyer listed for a combined $23.5 million, the developer said. About 65% of the project’s 52 units have found takers, most of whom are native New Yorkers. Many already live in the neighborhood. “It is a New York building, for New Yorkers, and the people buying are going to live here,” Macklowe, who’s building the tower with Goldman Sachs Group Inc., said in an interview. article continues below advertisement
Manhattan is brimming with new high-end condos, the result of a construction boom tailored to the appetites of big-spending, out-of-town investors. Those buyers, who saw Manhattan real estate as a haven after the recession, have scaled back their purchases amid a surging U.S. dollar and a plunge in oil prices, while listings keep piling up on the market. The fuel for deals such as the record-setting $100.5 million penthouse sale atop Midtown’s One57 tower in 2014, has been “fundamentally investors” making discretionary purchases, said Nancy Packes, a marketing and design consultant to New York residential builders. “They have many homes and they don’t need another home. When they see signs on the horizon that there could be turbulence ahead, they don’t buy.”
Downtown’s lure
About 4,282 newly built units are expected to be offered for sale in Manhattan this year, almost double the number that were listed in 2016, according to brokerage Corcoran Sunshine Marketing Group. More than 60% are considered luxury, costing at least $2,400 a square foot. Downtown neighborhoods, like Greenwich Village, have some insulation in a slowdown since they’re more desirable to locals seeking a place to live, rather than an investment to flip or rent out, said Packes, who isn’t affiliated with Macklowe’s project. This year through mid-May, more luxury-home contracts were signed for purchases south of 34th Street than in any other area of Manhattan, according to data from brokerage Olshan Realty Inc., which measures deals for $4 million or more. “When we say this market is ‘soft at the top,’ it doesn’t mean there aren’t any sales,” said Jonathan Miller, president of appraiser Miller Samuel Inc. “There’s still a modest amount of activity in the luxury market, just nowhere near the scale that was envisioned by the development community five years ago, when everybody had the same idea.”
Choosy buyers
At Macklowe’s development, at 21 E. 12th St., contracts were signed last month for two duplex “townhomes” on the third and fourth floors to a buyer seeking to combine them. Unit 3A, with a 3,310-square-foot interior, was priced at $11.5 million, while the other, 3B, has 3,307 square feet and was listed for $12 million, according to the developer. Each duplex has about 3,200 square feet of terrace space. The townhomes, which sit atop the retail portion of the property, are accessible through the building’s main lobby rather than from the street, Macklowe said. Another buyer last month signed contracts for both apartments on the 21st floor—a four-bedroom unit with 2,679 square feet, and a 2,496-square foot three-bedroom—which will also be combined into a single home. Together, they were priced at $17.6 million. “When you have a market where there’s a lot of choice, people really start to focus” and get more particular about what they want, said the developer, chief executive officer of William Macklowe Co. and son of real estate investor Harry Macklowe. The May sales tally at the project also includes contracts for three one-bedroom apartments of about 1,000 square feet each. The lowest-priced deal was for apartment 6D, listed at $2.43 million. Bowling alley
The project is near the corner of 12th Street and University Place, just north of the Washington Square Arch and at the site of the original Bowlmor Lanes, a bowling alley that opened its doors in 1938 and remained a hangout for locals and celebrities until its closing in 2014. Selldorf Architects designed the property, which will include on-site parking, a children’s playroom and a residents’ garden. The planned 23-story tower reached its third floor last week and will top out at its full height by early September, Macklowe said. Move-ins are expected by the end of 2018. Goldman Sachs Group Inc. Miller Samuel Inc. Harry Macklowe Jonathan Miller Real Estate Residential Real Estate New York
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At Manhattan's Bowlmor Lanes condos, the big spenders are locals

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October 8, 2012
New York, NY – Bowlmor Lanes (“Bowlmor” or the “Company”) has announced the successful closing of a debt recapitalization with Medley LLC (“Medley”). FocalPoint Securities, LLC (“FocalPoint”) served as Bowlmor’s exclusive financial advisor in the transaction. Bowlmor Lanes was founded in 1997 when Tom Shannon acquired a bowling alley in Manhattan, which he has since transformed into one of the city’s hottest and most compelling entertainment venues. The concept resonated with a broad array of consumers, from families to corporate executives to twenty-somethings. Since this initial acquisition, the Company has expanded nationally and currently has a portfolio of units located in NYC, Southern California, Florida and Washington DC. Brett Parker, CFO of Bowlmor said, “This transaction will allow us to recapitalize our balance sheet as well as provide additional liquidity going forward. The FocalPoint team was dedicated to our process from day one and diligently worked to find us the best partner. Ultimately, their hard work and expertise helped to drive this process to a successful close.”
Rajesh Sood, Managing Director at FocalPoint stated, “We are pleased that we were able to help the Bowlmor team find the best solution for their financing requirements. Together with restaurants, location based entertainment has been a very active sector for FocalPoint. Our experience in this sector affords us an extraordinary perspective on both the credit considerations and investor activity in the industry.”
About Bowlmor Lanes 
Bowlmor owns and operates stylish, upscale bowling properties located throughout the United States which offer an excellent and distinctive entertainment experience. The Company currently has six locations including Union Square and Times Square in New York City, Metro Washington, D.C.; Miami; and Silicon Valley and Orange County, California. For more information, visit www.bowlmor.com. About Medley LLC
MCC Advisors LLC, an affiliate of Medley LLC (“Medley”), is a registered investment adviser under the Investment Advisers Act of 1940, as amended. Medley specializes in credit investing, including direct private lending and corporate credit related strategies and provides first lien, second lien and unitranche term loans to lower middle-market and middle-market companies with an investment size between $7-$50 million. Medley will support acquisition and growth financings, leveraged buyouts, management buyouts, bank debt restructurings, CAPEX, Chapter 11 exit financing and DIP financing. Medley is headquartered in New York with offices in San Francisco. For more information, visit www.medleycapital.com. About FocalPoint Securities, LLC
FocalPoint is an independent investment bank with offices in Los Angeles and Chicago, specializing in mergers and acquisitions, private placements (both debt and equity), and financial restructurings/work-outs. The firm’s primary focus is on middle-market companies. For more information, visit www.focalpointllc.com. Please contact  Rajesh Sood  or  Gayane Kirakosyan  with any questions about this transaction. Securities products and services are offered through FocalPoint Securities, LLC. © FocalPoint Partners LLC 2017

Bowlmor Lanes has secured financing from Medley

Credit Suisse First Boston

Rentcar

Merger

Bowlmor Lanes owns and operates stylish, upscale bowling properties located throughout the United States which offer an excellent and distinctive entertainment experience. The Company has six locations including Union Square and Times Square in New York City, Metro Washington, D.C.; Miami; and Silicon Valley and Orange County, California.In July 2013, AMF Bowling Worldwide merged with Bowlmor to create Bowlmor AMF.

Name	Brett Parker
Work History	Credit Suisse First Boston, and Rentcar
Title	President, Chief Financial Officer
Status	Former

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