The Special Meeting will be completely virtual and conducted via live webcast. Investor ContactTom Filandro and Brendon Frey, ICR, Inc.ToppsIR@icrinc.com, Media Contact Keil Decker, ICR, Inc.ToppsPR@icrinc.com, TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except share data), Prepaid expenses and other current assets, Accrued expenses and other current liabilities, Common stock, $0.01 par value; 1,000 shares authorized; 100 shares issued and outstanding as of July 3, 2021 and January 2, 2021, Total liabilities and stockholders equity, TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Amounts in thousands) (unaudited), Selling, general and administrative expenses, Unrecognized pension and postretirement benefit (costs), net of income taxes, TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) (unaudited). We believe we are well positioned to capitalize on the many growth opportunities that exist for our business., Michael Eisner, Chairman of The Topps Company, commented, I am pleased with our fantastic start to 2021. The resources spent on a bad mission statement could be better spent elsewhere, creating an opportunity loss. In order to create a statement that's truly aspirational and inspiring, you're going to need to do a little bit of work. Mission definition. No Offer or SolicitationThis press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This seemed like a natural progression of the high performance life where one could get out in open watersaway from it allopen up throttles and let it rip without any hassles about speed limits or loud exhausts. About Mudrick Capital Acquisition Corporation IIMUDS is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Net effect of changes in operating assets and liabilities: Accounts payable, accrued expenses and other current liabilities, Acquisitions of property, plant and equipment, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents beginning of period, Cash and cash equivalents end of period. OutlookFor 2021, the Company now expects net sales to be in the range of $740 million to $760 million, representing an increase of 31% to 34% over 2020 net sales of $567 million. Throughout the years TOPPS has donated over $100,000 dollars to charities like the Sunshine Kids amongst others and also to the Clear Lake Chamber of Commerce for their Fourth of July Fireworks Spectacular. 30. A mission statement does not explain what a company does or how it does it. Stockholders of MUDS will also be able to obtain copies of the proxy statement and other documents filed with the SEC, without charge, once available, at the SECs website at www.sec.gov. MUDS stockholders and other interested persons are advised to read, the preliminary proxy statement, any amendments thereto, and, when available, the definitive proxy statement and any other documents filed, in connection with MUDS solicitation of proxies for its special meeting of stockholders to be held to approve the proposed business combination and other matters, as these materials will contain important information about MUDS, Topps and the proposed business combination. A mission statement representing an idea aligning with an in-demand and prospective employee helps secure this individual's interest and services. About the Cards Topps' method of determining these non-GAAP measures may be different from other companies' methods and, therefore, may not be comparable to those used by other companies and Topps does not recommend the sole use of these non-GAAP measures to assess its financial performance. Rubin called Topps an iconic brand in a statement announcing the move. Upon closing of the transaction, the combined company will be named Topps Companies, Inc. and will be listed on NASDAQ under the new ticker symbol TOPP. On June 22, 2021, MUDS filed an amendment to its preliminary proxy statement which includes Topps complete First Quarter 2021 financial results. A company's goals or business plan may be publicly disclosed or kept private/internal. These factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could result in the proposed business combination not being completed at all or on the expected timeline, including as a result of the termination of the definitive documentation with respect to the proposed business combination or the failure to obtain approval of MUDS stockholders or other conditions to closing in the definitive documentation with respect to the proposed business combination; (2) the outcome of any legal proceedings that may be instituted against MUDS or Topps or any of their respective directors or officers, following the announcement of the proposed business combination (3) the ability to meet applicable NASDAQ listing standards; (4) the risk that the proposed business combination disrupts current plans and operations of Topps business as a result of the announcement and consummation of the proposed business combination; (5) the inability to complete the private placement (6) changes in domestic and foreign business, market, financial, political and legal conditions; (7) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the proposed business combination; (9) changes in applicable laws or regulations; (10) the impact of the global COVID-19 pandemic on any of the foregoing risks; and (11) other risks and uncertainties indicated from time to time in the proxy statement relating to the proposed business combination, including those under Risk Factors therein, and other documents filed or to be filed with the SEC by MUDS. Topps encourages investors to review its financial statements included in the proxy statement filed by MUDS in their entirety and not to rely on any single financial measure. Requirements, How It Works, and Example, Social Entrepreneur: Definition and Examples, Not for Profit: Definitions and What It Means for Taxes. Net effect of changes in operating assets and liabilities: Accounts payable, accrued expenses and other current liabilities, Acquisitions of property, plant and equipment, Effect of exchange rate changes on cash and cash equivalents, (Decrease)/increase in cash and cash equivalents, Cash and cash equivalents - beginning of period, Cash and cash equivalents - end of period, Income taxes paid, net of refunds received, Non-cash and non-core (gains)/ losses, net, Net sales increased by $59.3 million, or 55.3%, to $166.6 million, Gross margin improved 200 basis points to 39.4%, Net income grew $23.0 million to $23.4 million, Adjusted EBITDA* grew $23.0 million to $35.9 million, Adjusted EBITDA margin* increased 950 basis points to 21.5%, Sports & Entertainment segment net sales increased 105.3% to $103.2 million, Physical Sports & Entertainment net sales increased 101.7%, Digital Sports & Entertainment net sales increased 111.1%, Sports & Entertainment segment Adjusted EBITDA increased 373.2% to $32.0 million generating an Adjusted EBITDA margin of 31.0% compared to 13.4%, Confections segment net sales increased 11.3% to $63.5 million, Confections segment Adjusted EBITDA was $10.7 million generating an Adjusted EBITDA margin of 16.9% compared to 19.9%. Companies can benefit from having a mission statement. 8th-grade reading level. It also helps the organization focus and stay on track to make the right decisions about its future. $19.99. For example, an ethical investor against tobacco products would probably not invest in a company whose mission is to be the largest global manufacturer of cigarettes. On that beautiful summer day setting on the upper deck a discussion took place on the subject of starting a High Performance Boat Club. The increase was primarily due to higher employee-related costs in the second fiscal quarter of 2021 compared to the second fiscal quarter of 2020, which had lower marketing and employee-related costs primarily due to cost reductions associated with the COVID-19 pandemic. TOPS Vision Statement. Many successful individuals, professionals, and investors have taken the time to craft a personal mission statement. Next, describe the way in which your company does what it does. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is included in MUDS definitive proxy statement. It demonstrates thoughtful leadership, reputability, and inspiration to potential investors, employees, or donors. Monterey Bay Aquarium: To inspire conservation of the oceans. NEW YORK, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The Topps Company, Inc. ("Topps" or "the Company"), a global leader in sports and entertainment collectibles and confections, today announced . Encourages High-Quality Output. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in MUDS preliminary and definitive proxy statement when it becomes available. Mission and vision statements play three critical roles: (1) communicate the purpose of the organization to stakeholders, (2) inform strategy development, and (3) develop the measurable goals and objectives by which to gauge the success of the organization's strategy. The management and employees of TOPP Industries, Inc., have made it our primary concern to provide "TOPP of the Line" quality, economy, and environmentally responsible products to our customers. In general, a mission statement describes the "what" and "how" of the company (sometimes also including the "why"), while a vision statement focuses more on the "why" or meaning behind the company's actions. A mission statement isn't meant to necessarily be catchy; it's meant to be informative and useful for guiding high-level decisions. * Features a step-by-step guide to developing your own mission statement, including a list of key words. For additional information visit topps.com, play.toppsapps.com, toppsdigitalservices.com, Candymania.com, investors.thetoppscompany.com. A mission statement is also a perfect "elevator pitch" sentence that key members of your company should know. No Offer or SolicitationThis press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. These further adjustments for the periods presented in this press release include sponsor fees, transaction and refinancing costs, losses on sales of subsidiaries, foreign currency transaction costs and other non-cash, non-recurring or non-core costs. About Mudrick Capital Acquisition Corporation IIMUDS is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. TOPS Mission Statement. About The Tornante CompanyThe Tornante Company, LLC is a privately held investment firm founded and owned by former Walt Disney Company CEO Michael Eisner. A brand is an suite of elements that encompasses a company's identity. About The Tornante CompanyThe Tornante Company, LLC is a privately held investment firm founded and owned by former Walt Disney Company CEO Michael Eisner. You are comfortable working in the fast-paced, dynamic environment of sports/pop culture marketing and e-commerce. 04. With our strong first quarter results, I am pleased to report that we have meaningfully raised our full year 2021 net sales and Adjusted EBITDA* targets.. Fiberglass Basins, Covers and Accessories. The non-GAAP measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. Although. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by net sales. Connect with clients Customers hire companies with whom they find a connection. Finally, include why you do what you do in your mission statement. A mission statement might slightly overlap other marketing content, but it is different from a vision statement, value statement, brand, or slogan. There's a lot more to crafting a great vision statement than just writing a few sentences. Your organization should refer to your mission statement often as you: Second Quarter 2021 Financial HighlightsComparison of the Thirteen Weeks Ended July 3, 2021 to the Thirteen Weeks Ended July 4, 2020, Net sales increased by $92.8 million, or 77.7%, to $212.2 million, Gross margin improved 350 basis points to 43.3%, Adjusted EBITDA* grew 144.0% to $55.1 million, Adjusted EBITDA margin* increased 710 basis points to 26.0%, Second Quarter 2021 Segment HighlightsComparison of the Thirteen Weeks Ended July 3, 2021 to the Thirteen Weeks Ended July 4, 2020, Sports & Entertainment segment net sales increased 86.5% to $151.5 million, Physical Sports & Entertainment net sales increased 87.7%, Digital Sports & Entertainment net sales increased 122.4%, Sports & Entertainment segment Adjusted EBITDA increased 137.8% to $53.6 million generating an Adjusted EBITDA margin of 35.4% compared to 27.8%, Confections segment net sales increased 58.8% to $60.7 million, Confections segment Adjusted EBITDA increased 71.1% to $11.9 million generating an Adjusted EBITDA margin of 19.6% compared to 18.2%, *Non-GAAP measure; complete definitions of Topps non-GAAP measures are provided herein under Non-GAAP Measures Disclosures., Michael Brandstaedter, Chief Executive Officer of The Topps Company stated, Our second quarter performance reflected the overall strength of our business. We delivered exceptional performance in our Sports & Entertainment segment, as well as a meaningful recovery in our Confections segment compared to last years COVID-related impact on this business.
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