Genius Sports Group To Go Public Through Combination With DMYD
Genius Sports Group To Go Public Through Combination With NYSE-Listed dMY Technology Group II
- Pro forma enterprise value of the merger of approximately $1.5 billion, or 8.0x GSG's currently projected 2021 revenue of $190 million.
- Transaction includes a $330 million fully committed private investment ("PIPE") at $10.00 per share. anchored by institutional and experienced industry investors
- The combined company is expected to have approximately $150 million of growth capital (assuming no redemptions) and a substantially debt-free balance sheet to accelerate its U.S. and international expansion through organic growth and strategic acquisitions
- dMY II shareholders, GSG shareholders and PIPE investors will hold shares in NYSE-listed combined company
The Boards of Directors of both dMY II and GSG have unanimously approved the transaction. The transaction will require the approval of dMY II's stockholders, and is subject to other customary closing conditions, including a minimum cash condition. The transaction is expected to close in Q1 2021.
finance.yahoo.com/news/genius-sports-group-public-combination-070000728.html
- Pro forma enterprise value of the merger of approximately $1.5 billion, or 8.0x GSG's currently projected 2021 revenue of $190 million.
- Transaction includes a $330 million fully committed private investment ("PIPE") at $10.00 per share. anchored by institutional and experienced industry investors
- The combined company is expected to have approximately $150 million of growth capital (assuming no redemptions) and a substantially debt-free balance sheet to accelerate its U.S. and international expansion through organic growth and strategic acquisitions
- dMY II shareholders, GSG shareholders and PIPE investors will hold shares in NYSE-listed combined company
The Boards of Directors of both dMY II and GSG have unanimously approved the transaction. The transaction will require the approval of dMY II's stockholders, and is subject to other customary closing conditions, including a minimum cash condition. The transaction is expected to close in Q1 2021.
finance.yahoo.com/news/genius-sports-group-public-combination-070000728.html
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