GAN Limited Shareholders Approve SEGA SAMMY Merger Proposal At Special General Meeting Of Shareholders
Portfolio Pulse from Happy Mohamed
GAN Limited shareholders approved the merger with a subsidiary of SEGA SAMMY CREATION INC., with over 95% votes in favor. The merger, expected to close in late 2024 or early 2025, will result in GAN delisting from Nasdaq and becoming a private entity. Each GAN share will convert into $1.97 in cash, less applicable taxes.
February 13, 2024 | 10:02 pm
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GAN Limited's shareholders approved a merger with SEGA SAMMY's subsidiary, leading to GAN's delisting and privatization by early 2025.
The overwhelming approval of the merger by GAN's shareholders indicates strong support for the deal, likely leading to positive sentiment in the short term. However, as the company will go private, the long-term impact on public investors is neutralized. The conversion of shares to cash at $1.97 each could be seen as positive or negative depending on the pre-merger trading price.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100