Brief: Better Collective Buys Action Network, For $240 Mln

Better Collective A/S

03/05/2021 20:08

May 4 (Reuters) - Better Collective A/S  BETCO.ST :
    * REG-BETTER COLLECTIVE ACQUIRES LEADING US SPORTS BETTING
MEDIA
PLATFORM, ACTION NETWORK, FOR 240 MUSD
    * IN 2021, ACTION IS EXPECTED TO ACHIEVE REVENUES
APPROACHING 40
MILLION USD, AN INCREASE OF OVER 100% YEAR-ON-YEAR
    * BETTER COLLECTIVE - NOW EXPECTS TO INCREASE ITS REVENUES
IN US
TO MORE THAN 100 MUSD BY 2022
    * BETTER COLLECTIVE  - ACQUISITION IS SUBJECT TO CUSTOMARY
REGULATORY APPROVALS AND IS EXPECTED TO BE COMPLETED IN Q2 2021
    * BETTER COLLECTIVE - PURCHASE PRICE WILL BE SETTLED IN CASH
PAYMENT AND A 12 MILLION USD ISSUANCE OF NEW BETTER COLLECTIVE
SHARES TO ACTION'S MANAGEMENT
    * BETTER COLLECTIVE - CASH COMPONENT OF PURCHASE PRICE WILL
BE
PROVIDED THROUGH BANK FINANCING
    * 10 MILLION USD OF CASH PAYMENT WILL BE PAID ON DEFERRED
BASIS AS
SETTLEMENT OF CERTAIN EXISTING SHARE OPTIONS IN ACTION
    * BETTER COLLECTIVE- ACTION WILL CONTINUE TO OPERATE AS
SEPARATE
BUSINESS

Source text for Eikon:  ID:nGNE1mt9Mz 
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