Brief: Overactive Media Executes Letter Of Intent To Acquire Koi And Movistar Riders To Form Global Esports Powerhouse

Overactive Media

04/01/2024 18:30

Jan 4 (Reuters) - Overactive Media Corp  OAM.V :
    * OVERACTIVE MEDIA EXECUTES LETTER OF INTENT TO ACQUIRE BOTH
KOI
AND MOVISTAR RIDERS TO FORM GLOBAL ESPORTS POWERHOUSE
    * OVERACTIVE MEDIA CORP -  ACQUISITIONS EXPECTED TO BE
ACCRETIVE
TO ADJUSTED EBITDA GOING FORWARD AND ADD $10 TO $12 MILLION IN
REVENUES IN 2024
    * OVERACTIVE MEDIA CORP - CONSIDERATION PAYABLE BY
OVERACTIVE FOR
EACH OF ACQUISITIONS WILL CONSIST OF UP TO 30 MILLION COMMON
SHARES OF COMPANY
    * OVERACTIVE MEDIA- UPON CLOSING , GABRIEL SAENZ DE BURUAGA,
CO-FOUNDER OF MOVISTAR RIDERS, AND GERARD PIQUÉ EXPECTED TO JOIN
CO'S BOARD OF DIRECTORS

Source text for Eikon:  ID:nCNWqMywWa 
Further company coverage:  OAM.V 

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