Landcadia Holdings, Inc. Completes Acquisition of Waitr Incorporated


Landcadia Holdings, Inc. changes name to Waitr Holdings Inc.

Combined Company will trade on the Nasdaq Stock Market

LAKE CHARLES, La.–(BUSINESS WIRE)–Landcadia Holdings, Inc. (Nasdaq:LCA) (“Landcadia”), a publicly-traded
special purpose acquisition company, and Waitr Incorporated (“Waitr”), a
fast growing restaurant platform for online ordering and secondary
on-demand food delivery, announced today that they have completed their
previously announced business combination under which Landcadia acquired
Waitr for approximately $308 million in total consideration. The
business combination was approved today by Landcadia’s stockholders.

Upon completion of the business combination, Landcadia changed its name
to Waitr Holdings Inc. and will continue trading on the Nasdaq Stock
Market under the ticker symbol “WTRH”, commencing November 16, 2018.

In connection with the business combination, Landcadia completed the
previously announced $85 million financing from Luxor Capital Group, LP,
consisting of a $25 million term loan facility and the issuance of $60
million of convertible notes.

Chris Meaux, founder and Chief Executive Officer of Waitr, and the rest
of the Waitr executive team will continue in their respective roles for
the combined company. Mr. Meaux will also serve as Chairman of the
combined company’s board of directors. Tilman J. Fertitta, co-founder of
Landcadia, will serve as a director of the combined company, and in such
capacity, will be in a position to oversee the combined company’s growth
and brand building.

Mr. Fertitta commented: “We are pleased to complete the merger with
Waitr. I believe they are the best-in-class, on-demand food ordering and
delivery partner for customers and restaurants. They are also positioned
well to take advantage of the massive unpenetrated market for online
delivery, particularly in secondary markets.”

Mr. Meaux commented: “We are excited to partner with Tilman and the
Landcadia team and we believe this is a great opportunity. Our combined
expertise, experience and resources, and being a publicly-traded company
will further enable us to accelerate our growth in the markets we
currently serve, expand into new markets and take advantage of potential
opportunistic acquisitions.”

Jefferies LLC served as financial, lead capital markets advisor and
placement agent to Landcadia, Deutsche Bank Securities Inc. served as
capital markets advisor to Landcadia and Winston & Strawn LLP acted as
legal counsel to Landcadia. Wells Fargo Securities, LLC served as
financial advisor to Waitr and Cara Stone, LLP acted as legal advisor to

About Landcadia Holdings, Inc.

Landcadia Holdings, Inc. was 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.

About Waitr

Founded in 2013 and based in Lake Charles, Louisiana, Waitr is a leader
in on-demand food ordering and delivery in the Southeast U.S. Its
platform connects local restaurants to hungry diners in underserved
markets in America’s heartland. Waitr is the most convenient way to
discover, order and receive great food from the best local restaurants
and national chains. As of September 30, 2018, Waitr had over 7,700
restaurant partners in over 235 cities in the Southeast U.S.

About Luxor Capital Group, LP

Luxor Capital Group, LP (“Luxor”) is a multi-billion dollar investment
fund that was founded in 2002. Applying a bottom-up, fundamental
approach to investing, Luxor has deep sector expertise within its focus
industries, namely Internet, Software, Financials, Real Estate, Media
and Energy. Luxor takes a long-term view towards investing and often
works closely with the management teams of their portfolio
companies. Luxor is also invested in other leading companies across the
global online food ordering and delivery space.

Forward-Looking Statements

This press release includes “forward-looking statements” within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Landcadia’s and Waitr’s actual results
may differ from their 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, Landcadia’s and Waitr’s expectations with respect to
future performance and anticipated financial impacts of the business
combination. 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
Landcadia’s and Waitr’s control and are difficult to predict. Factors
that may cause such differences include, but are not limited to: (1) the
outcome of any legal proceedings that may be instituted against
Landcadia and Waitr in connection with the business combination and the
transactions contemplated therein; (2) the inability to obtain or
maintain the listing of the combined company’s common stock on the
Nasdaq Stock Market following the business combination; (3) the risk
that the business combination disrupts current plans and operations as a
result of the announcement and consummation of the business combination;
(4) the ability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things, competition,
the ability of the combined company to grow and manage growth profitably
and the combined company’s ability to retain its key employees; (5)
costs related to the business combination; (6) changes in applicable
laws or regulations; (7) the possibility that Waitr or the combined
company may be adversely affected by other economic, business, and/or
competitive factors; and (8) other risks and uncertainties indicated
from time to time in the proxy statement filed by Landcadia with the
Securities and Exchange Commission (SEC) relating to the business
combination, including those under “Risk Factors” therein, and in
Landcadia’s other filings with the SEC. The foregoing list of factors is
not exclusive, and readers should not place undue reliance upon any
forward-looking statements, which speak only as of the date made. Waitr
Holdings Inc. does not undertake or accept any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements to reflect any change in its expectations or any change in
events, conditions or circumstances on which any such statement is based.


Dara Dierks

Jim Furrer / Kate Ottavio Kent
646-677-1808 /
/ Kate.OttavioKent@icrinc.com


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