REG - Streaks Gaming PLC - Publication Prospectus and Proposed Admission
28/12/2022 08:15
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RNS Number : 9594K Streaks Gaming PLC 28 December 2022
28 December 2022
NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA,
CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH
AFRICA, OR ANY PROVINCE OR TERRITORY THEREOF OR TO OR FOR THE ACCOUNT OF ANY
NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES OR ANY PERSON RESIDENT IN
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OF SOUTH AFRICA. THE DISTRIBUTION OF THIS DOCUMENT IN OR INTO OTHER
JURISDICTIONS MAY BE RESTRICTED BY LAW AND THEREFORE PERSONS INTO WHOSE
POSSESSION THIS DOCUMENT COMES SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY
SUCH RESTRICTIONS. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY
CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
This announcement is an advertisement for the purposes of the Prospectus Rules
of the UK Financial Conduct Authority ("FCA") and not a prospectus and not an
offer to sell, or a solicitation of an offer to subscribe for or to acquire,
securities in the United States. Neither this announcement nor anything
contained herein shall form the basis of, or be relied upon in connection
with, any offer or commitment whatsoever in any jurisdiction. Investors should
not purchase or subscribe for any transferable securities referred to in this
announcement except on the basis of information contained in the prospectus
(the "UK Prospectus") being published by Streaks Gaming PLC in connection with
the proposed admission of its ordinary shares to the standard listing segment
of the Official List maintained by the FCA (the "Official List") and to
trading on the London Stock Exchange plc's (the "London Stock Exchange") main
market for listed securities (the "Main Market"). Copies of the UK Prospectus
will be available for inspection from www.playstreaks.com/prospectus
(http://www.playstreaks.com/prospectus) shortly.
Streaks Gaming PLC
Publication of a UK Prospectus and Proposed Admission on the London Stock
Exchange
Streaks Gaming PLC (Streaks or the Company), a developer of a conversational
gaming platform, is pleased to announce today the publication of its UK
Prospectus, placing and subscription for 100,000,000 ordinary shares of
£0.001 each of the Company at 3p per share to raise £3 million in aggregate
and proposed admission of its ordinary shares to the Standard Listing segment
of the London Stock Exchange (Admission).
The fundraising is conditional on Admission and comprises circa £2.3 million
being raised from AQRU plc, a company listed on the Access segment of Aquis
Stock Exchange Growth Market (TIDM: DEFI), with the remaining funds being
raised from institutional investors.
It is expected that Admission will become effective and that dealings in the
Ordinary Shares will commence at 8.00 a.m. on 5 January 2023.
The Company will become the first conversational gaming company to join the
LSE.
The Company plans to create a global conversational gaming platform based on
powerful Natural Language Processing (NLP) text generators like GPT-3. As
sports betting is legalised across the United States, it is expected that many
first time bettors will be first introduced to betting through conversational
gaming. The Directors believe that Streaks will be able to leverage
conversational gaming to service the growing demand for US sports betting.
The Company's conversational games will be free to play and will not involve
betting, wagering or any other activity that requires licensing.
Proceeds from the fundraising will be used to continue to build the product,
attract new players, invest in the Streaks brand and expand the Company's
activities.
Mike Edwards, chairman of Streaks, said: "The growing global popularity of GPT
coupled with the opening of the US sports marketing presents a generational
marketing opportunity. We firmly believe that prospective players will be
introduced to sports betting through casual conversational gaming powered by
GPT-3, which would allow users to put their sports knowledge to the test
against digital personalities. Conversational gaming and GPT-3 will be the
medium through which many new players may be introduced to sports betting.
Streaks will be the first conversational gaming company to join the London
stock market, which will provide us with the caché, credibility and capital
to fulfil our ambition to become one of the world's most recognizable consumer
conversational gaming brands within three years."
Tennyson Securities is acting as the brokers and book runner for the Company.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Streaks Gaming PLC
Mike Edwards via First Sentinel (Corporate Advisor)
Executive Chairman +44 203 989 2222
Tennyson Securities
Bookrunner and Corporate Broker +44 207 186 9030
Peter Krens
Key executives and team members
Michael Edwards, Non-Executive Chairman
Mike Edwards has a wealth of experience in building consumer technology
companies in private and public markets. He has co-founded several successful
companies including AreaConnect.com, a consumer content company acquired by
NASDAQ listed Marchex in 2008, Wyley Interactive, a mobile game engagement
platform, acquired by NASDAQ listed Zynga in 2014, Caravan Digital a venture
capital backed startup foundry that builds consumer technology companies by
leveraging the Creative Artist Agency's access to talent and audience, East
Side Games Group Inc, a counter culture mobile conversational game studio
listed on the TSX. Mr Edwards has also invested in early stage consumer
companies such as Punch'd (later acquired by Google), Wander (later acquired
by Yahoo), Summify (later acquired by Twitter), BlueBat Games (later acquired
by Novomatic Group), Retsly (later acquired by Zillow) and Password Box (later
acquired by Intel). He is also a co-founder of: Argo Blockchain PLC, an
enterprise-scale provider of cryptocurrency mining services listed on the
London Stock Exchange and NASDAQ; Guild Esports Plc, a global esports
franchise listed on the London Stock Exchange; Pioneer Media Holdings, Inc. an
investment company listed on the NEO Exchange and AQSE focussing on mobile
gaming, esports and the metaverse; Cellular Goods Plc, the first producer of
biosynthetic cannabinoids to join the London Stock Exchange; and NFT
Investments Plc, the first publicly traded vehicle for the new NFT asset
class.
Robert Rutledge, Executive Director, CEO
Mark Rutledge has over 25 years of experience as a serial entrepreneur,
C-level executive and strategic adviser with a particular expertise in
structuring and financing technology start-ups. In the early stages of his
career, Mark practised securities and entertainment law, and acted for clients
such Viacom, Disney, Paramount, Time Warner, Showtime, USA Networks, and Canal
+ (France) arranging over $100M in production and equity financings. He is
currently CEO of Carraway Capital Corp., and co-founder and President of
Sosido Networks Inc. a pre-eminent knowledge-sharing community for health-care
professionals. He was until recently a Director of East Side Games, a leading
mobile gaming company (TSE:EAGR), and is currently a Director of Pioneer Media
Holdings Inc. (NEO:JPEG) a web3 gaming infrastructure company and AQRU plc
(AQSE:AQRU), a company focused on opportunities in decentralised finance
("DeFi") helping to take all three companies public. He is also a Director of
Aja Ventures Inc., a health sciences company focused on longevity.
David Raphael, Executive Director, Chief Marketing Officer
David Raphael is an expert user acquisition marketer and the former Director
of Digital Marketing for Fanduel. After graduating from the University of
Chicago, Mr Raphael worked as marketing analyst for Sears and Experian before
joining Snap Interactive where he was promoted to Director of Marketing and
managed a multi-million dollar marketing budget for a social dating app with
over 100 million users. Since Fanduel's acquisition, Mr Raphael has led user
acquisition strategy for several leading consumer mobile apps like GoodRx
(number one medical app in the US), Wag (number one dog app), Wheels and
Lucktastic.
Nicholas Lyth, Executive Director, Chief Financial Officer
Nicholas Lyth is a UK based, experienced board director and qualified
accountant with over five years' experience advising a number of quoted
companies including AIM listed companies Univision Engineering Ltd, Altona
Energy plc and Taihua plc and AQSE listed NFT Investments plc. Prior to his
recent public company experience, Mr. Lyth was Group Finance and Purchasing
Director of Belle Group, a manufacturer of engineering equipment operating
across Europe, the US and Asia. He was also Head of Finance at Fothergill
Group, a UK manufacturer of technical industrial fabrics, between 1996 and
2003. In his early career, Nick was a management accountant at Courtaulds plc
and Rotunda plc.
Gordon Silvera, Executive Director, Chief Data Officer
Gordon Silvera is an expert data scientist and the former Senior Data
Scientist at Spotify. After graduating from Dartmouth College, Mr Silvera
worked in analytics and data science for Digitas, FanDuel and Vocate. At
Spotify Mr Silvera launched Data SWAT, Spotify's internal data science
consulting team. Mr Silvera's team also provided analytical support on
high-priority strategic projects across the company, such as the Year in
Review campaign.
Kalum (Kal) Lee Hourd, Non Executive Director
Kalum Hourd is an experienced esports entrepreneur and is the CEO of Guild
Esports Plc, a global esports organisation listed on the Main Market of the
London Stock Exchange. He has been a successful entrepreneur and executive for
more than 25 years and is experienced in developing marketing and content
strategies to achieve audience growth and generate media value, resulting in
advertising revenue back to the company. In Guild's first year, the company
secured an owned audience of 1 million, with a total reach exceeding 20
million. The fast growth resulted in partnerships with global brands in the
gaming, electronics, beverage, restaurant and crypto spaces. Prior to Guild
Esports, Kalum was CEO of CYQiQ Gaming, an esports organisation in Canada.
David Brown, Vice President, Product & CRM
David Brown is a former FanDuel and Spotify product growth expert. David has
several years of experience in fantasy sports gaming, leading CRM at FanDuel.
While at Spotify, he contributed to Spotify's growing MAU base and Premium
subscription business by co-designing a novel machine learning powered
notifications product alongside ML engineers, product designers, UX writers
and user researchers. Prior to joining Spotify, David was the CRM lead at
health tech startup Blink Health; an e-commerce prescription drug business.
Further details of the Senior Manager's service agreements and letters of
appointments.
Ryan Douglas Faber, Advisor and Co-Founder
Ryan Faber is a successful serial entrepreneur and the former VP of Digital
Marketing at Fanduel. In 2014, he successfully launched Fanduel's iOS and
Android apps and powered them to be number one apps in the respective sports
categories. Mr Faber won three Webby Awards for Best Mobile Sports Experience,
efficiently managed over US$100 million in online advertising, and
successfully led Fanduel's digital marketing strategy up until Fanduel was
acquired by Paddy Power Betfair in 2018. Mr Faber also founded Flatiron
Collective, a leading growth accelerator for consumer mobile apps. Flatiron
has managed over US$650 million in digital advertising spend, and its partners
have raised over US$1.65 billion in venture capital with eight exits between
2018 and 2020.
Ends
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