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Merger with SEGA SAMMY remains on track to close in late 2024 or early 2025
GAN Limited (the "Company" or "GAN") (NASDAQ:GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading international B2C operator of Internet sports betting, today announced that it has received approval from the Nevada Gaming Commission (NGC) for the merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. ("SSC"), an affiliate of SEGA SAMMY HOLDINGS INC. ("SEGA SAMMY HOLDINGS").
The closing of the merger remains subject to other customary closing conditions including additional gaming regulatory approvals, and is expected to occur in late 2024 or early 2025.
If the merger is completed, each GAN ordinary share issued immediately prior to the effective time of the merger will be automatically cancelled and converted into the right to receive $1.97 in cash with respect to each such ordinary share, without interest and less applicable withholding taxes. Upon the completion of the merger, GAN will cease to be a publicly-traded company and its ordinary shares will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended.
Posted In: GAN
