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DMYD.U - DMY Technology II Inc News Story

$18.13 -3.9  -17.7%

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Position in Universe th / 6852

BRIEF-Genius Sports Group To Go Public Through Combination With Dmy Technology Group Ii

Tue 27th October, 2020 7:05am
Oct 27 (Reuters) - Genius Sports Group:
    * GENIUS SPORTS GROUP TO GO PUBLIC THROUGH COMBINATION WITH
NYSE-LISTED DMY TECHNOLOGY GROUP II
    * PRO FORMA ENTERPRISE VALUE OF MERGER OF APPROXIMATELY $1.5
BILLION
    * TRANSACTION INCLUDES A $330 MILLION FULLY COMMITTED
PRIVATE
INVESTMENT ANCHORED BY INSTITUTIONAL AND EXPERIENCED INDUSTRY
INVESTORS
    * DMY II SHAREHOLDERS, GSG SHAREHOLDERS AND PIPE INVESTORS
WILL
HOLD SHARES IN NYSE-LISTED COMBINED COMPANY
    * COMBINED CO EXPECTED TO HAVE $150 MILLION OF GROWTH
CAPITAL
(ASSUMING NO REDEMPTIONS) AND A SUBSTANTIALLY DEBT-FREE BALANCE
SHEET
    * DMY II'S CHAIRMAN AND DMY II'S CEO WILL SERVE ON COMBINED
COMPANY'S BOARD OF DIRECTORS
    * DMY II'S CHAIRMAN AND DMY II'S CEO WILL SERVE ON COMBINED
COMPANY'S BOARD OF DIRECTORS
    * ANTICIPATED THAT NEWCO WILL HAVE APPROXIMATELY $150
MILLION OF
UNRESTRICTED CASH AND A SUBSTANTIALLY DEBT-FREE BALANCE SHEET AT
CLOSING
    * BOARDS OF DIRECTORS OF BOTH DMY II AND GSG HAVE
UNANIMOUSLY
APPROVED TRANSACTION
    * TRANSACTION IS EXPECTED TO CLOSE IN Q1 2021

Source text for Eikon:  ID:nPnB1Flxa 
Further company coverage:  DMYD.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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