Isos Acquisition Corp.

Investors should note that Isos Acquisition Corp. (ISOS) is closed; this filing belongs to Lucky Strike Entertainment Corporation, the SPAC's merged operating entity. The filing confirms the completion of the business combination, details the significant debt restructuring and asset acquisitions driving growth, and reports on operational performance including same-store revenue stability and Adjusted EBITDA of $333,208 thousand.

The pricing asymmetry in that table is unchanged and remains the thing to notice: the 31,854,625 shares issued on conversion of the Isos Class A and Class B ordinary shares are priced at 9.91 and carry $315,679,334, while the 58,518,805 shares going to Bowlero Stockholders and the 62,392,209 issuable on conversion of the Class B issued to them are priced N/A for $1,952 and $2,079. The $338,605,815 aggregate is therefore almost entirely the SPAC's own stock and warrants, not a measure of Bowlero.

Nearly the whole dollar total comes from the SPAC's own shares rather than from the merger: the 31,854,625 Class A shares issued on conversion of the Isos Class A and Class B ordinary shares are priced at 9.91 and carry $315,679,334. The 58,518,805 shares going to Bowlero Stockholders and the 62,392,209 issuable on conversion of the Class B issued to them are priced N/A and carry $1,952 and $2,079, with fees of $0.22 and $0.23. Anyone reading the aggregate as a deal value would have it exactly backwards.

The consideration is stated as cash of $309,228 thousand plus the Per Share Preferred Stock Cash Consideration plus 119,488,202 shares, of which 62,392,209 are New Bowlero Class B common stock going to Tom Shannon. Closing is conditioned on Isos holding at least $520,000 thousand of cash, in or outside the trust, after redemptions; against commitments of $345,000 thousand from the PIPE offerings and the forward purchase contract and a trust balance of approximately $254,838 thousand, the pro forma maximum-redemption case is only 7,983,800 shares, $79,838 thousand at $10.00 per share.

Assuming no redemptions is the most favourable case for the target side, so the registered counts are the top of the range rather than a central estimate. The two target lines are still priced at $1,952 and $2,079 in aggregate — par-value computations carrying $0.22 and $0.23 of fee — while the 31,854,625 shares that are Isos's own converting capital are priced at $9.91 and carry $34,440.62 of the fee. Only the share counts are comparable across the table; the dollar columns measure two different things.

The two target lines are priced at $1,952 and $2,079 in aggregate — par-value computations for a private company, carrying fees of $0.22 and $0.23 — while the 31,854,625 shares that are Isos's own capital converting are priced at $9.91 and carry $34,440.62 of the fee. The Class B tranche is the larger of the two target lines, so most of what Bowlero's holders receive arrives as convertible Class B stock rather than as Class A.

What changed: The filing reports no redemption deadlines, trust value adjustments, extensions, or deal progress because Isos Acquisition Corp. is in CLOSED status; instead, the document contains Lucky Strike Entertainment Corporation's furnishing of a press release announcing financial results for the fourth quarter and fiscal year 2026 (ended June 28, 2026) and an announcement that the Company will host a webcast on August 27, 2026 at 9:00 a.m. Eastern Time to review those results. Why it matters: Investors tracking Isos Acquisition Corp. receive confirmation that there are no active SPAC lifecycle events (such as redemptions or extensions) to monitor, while investors in Lucky Strike Entertainment Corp. are alerted to specific dates for earnings disclosure and management commentary.

What changed: Lucky Strike Entertainment Corporation filed its 10-K for the fiscal year ended June 28, 2026, reporting total revenues of $1,245,318 thousand and a net loss of $35,777 thousand. The company acquired 5 locations for $88,127 thousand and purchased previously leased assets for $246,795 thousand. It refinanced debt with a $1,200,000 thousand term loan and issued $500,000 thousand in Senior Secured Notes, while repurchasing 4,325,490 shares of Class A common stock for $35,442 thousand. Why it matters: Investors should note that Isos Acquisition Corp. (ISOS) is closed; this filing belongs to Lucky Strike Entertainment Corporation, the SPAC's merged operating entity. The filing confirms the completion of the business combination, details the significant debt restructuring and asset acquisitions driving growth, and reports on operational performance including same-store revenue stability and Adjusted EBITDA of $333,208 thousand.