NeoGames extends Aspire Global acceptance period

NeoGames submitted its SEK4.3bn (£349.0m/€417.6m/$476.0m) bid to take over Aspire Global in January.

The acceptance period was originally supposed to end on 25 May 2022.

It was extended to give all shareholders the chance to accept NeoGames’ offer. The offer consists of a combination of cash for half of all Aspire Global shares at SEK111 per share and equity consideration for the remaining 50%, which would be made up of 7.6m newly issued NeoGames shares.

On 25 May over 45 million Aspire Global shares had been tendered in the offer, adding up to 98.2% of Aspire Global shares.

The settlement of these shares – where the cash will be exchanged – will take place on 14 June.

The settlement for shares accumulated between 25 May and 14 June will take place on 30 June.

NeoGames also announced that regulatory approvals from the Gibraltar Gambling Commission and the North Macedonia Competition Authority have been received, meaning that the conditions of the offer have been met.

However, Aspire Global must also “accelerate” its current incentive programmes – meaning that all outstanding options, warrants and options issued are converted into no more than 828,094 shares – before the acceptance period ends to solidify the deal.