Spiffbet set to acquire Goliath Casino operator
Published 4th August 2020
Under the agreement, which remains subject to approval, Goliath will become a wholly owned subsidiary of Spiffbet
Spiffbet will offer Goliath shareholders the opportunity to exchange their shares for newly issued shares in Spiffbet. Up to 6,632,331 Spiffbet shares will be issued at a price of SEK0.401 each, corresponding to a value of approximately SEK2.6m (£227,229/€252,518/$296,160) and representing 3.8% of all Spiffbet shares.
In addition, Spiffbet plans to carry out a private placement to a group of selected investors, including some shareholders in Goliath, in order to partially finance the acquisition. This will see SEK856,073 worth of shares made available.
Goliath’s board of directors has recommended that the deal go through, but the acquisition also requires the approval of 90.0% of Goliath shareholders. Some 84.2% of the operator’s shareholders have already indicated they will support the deal.