Enhanced Group Acquires Controlling Stake in DEAG

New York, New York - Enhanced Group Inc. (NYSE: ENHA), a sports, entertainment and performance company, has entered into a definitive agreement to acquire an approximately 77% controlling interest in DEAG Deutsche Entertainment AG, a major European live entertainment and ticketing platform. This strategic move aims to create a global platform for live events and experiences, combining Enhanced's sports and telehealth assets with DEAG's extensive portfolio of roughly 6,000 annual live events, concerts, and festivals.

Strategic Rationale and Financial Outlook

Enhanced management expects the combination to generate approximately $670 million in combined revenue and $26 million in Adjusted EBITDA in 2027. The company emphasizes that this acquisition positions it to capitalize on the growing demand for in-person, shared human experiences, which it believes will become increasingly premium as AI and automation continue to reshape the global workforce.

Transaction Details

• Deal Structure: An all-stock transaction issuing approximately 11 million shares of Class A common stock, valuing 100% of DEAG's equity at approximately $115 million.
• Valuation: Represents 5.3x FY2027E Adjusted EBITDA, a significant discount compared to listed industry peers.
• Growth Capital: Enhanced plans to support DEAG's established buy-and-build strategy with additional growth capital following the closing.
• Concurrent Financing: Enhanced is simultaneously conducting a $15 million private investment in public equity (PIPE) financing with institutional investors, including Apeiron Investment Group.

DEAG will continue to operate under its existing management team, led by incoming CEO Markus Breitenecker. The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions.