US-based special purpose acquisition firm Yucaipa Acquisition Corporation (YAC) and sports e-commerce and technology platform Signa Sports United (SSU) have revealed plans to complete their business merger this week.

The deal is expected to close on 14 December subject to the approval of YAC shareholders and other closing conditions being met.

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Once it is completed, the combined entity will serve more than 1,000 brand partners and more than 500 connected retail stores.

It will also cater to seven million active customers and more than 15 million sports community users worldwide.

YAC chairman and president Ron Burkle said: “We are pleased we are in a position to close the combination and open the next chapter.

“We look forward to supporting the experienced SSU team on this exciting journey as a public company.”

SSU CEO Stephan Zoll said: “We’re delighted to be on the verge of closing the transaction and are ready to start the next stage of the SSU story.

“This important step enables us to build upon the strength of our technology and infrastructure platform and further grow our position in the global sports e-commerce market.”

The deal is expected to result in gross proceeds of at least $484m from YAC trust proceeds and the private placement of common stock (PIPE) from high-tech investors, sovereign wealth funds and high net-worth individuals.

Following the transaction, SSU’s shares are anticipated to begin trading on the New York Stock Exchange (NYSE).

SSU designated board chairman Mike Özkan said: “With the anticipated closing of the business combination, as well as the Wiggle Chain Reaction Cycles acquisition, SSU is taking its next step to further accelerate its global expansion as an NYSE-listed company.

“The listing will allow us to accelerate the strategic consolidation of the sports e-commerce and technology sector.”