SPACInsider Logo
Sports Entertainment Acquisition Corp. (SEAH) Shareholders Approve Super Group Deal
by Marlena Haddad on 2022-01-26 at 10:52am

Sports Entertainment (NYSE:SEAH) announced in a press release that its shareholders have approved its combination with online sports betting company Super Group in a special meeting held this morning.

The transaction is expected to generate approximately $202.4 million from SEAH trust proceeds, reflecting approximately 55% of the publicly held shares that were submitted for redemption. Super Group has waived the minimum cash condition of $300 million to be satisfied at the closing of the business combination, and SEAH expects all closing conditions to be met. SEAH opened at $8.27 today, but is currently down 1.73% to $7.94 following the meeting.

Sports Entertainment expects to close the deal tomorrow, January, 27.  Following closing, the combined company will be known as “Super Group Limited,” and on Friday, January 28, its shares and public warrants are expected to trade on the NYSE under the symbols “SGHC” and “SGHC WS,” respectively.

The parties initially announced their $4.6 billion deal on April 26. UK-based Super Group provides online sports betting through its Betway brand and an online casinos under the Spin brand with 2.5 million monthly active customers.


ADVISORS

  • Oakvale Capital LLP acted as exclusive financial advisor to Super Group.
  • Goldman Sachs & Co. LLC. and PJT Partners acted as financial advisors to SEAH.
  • Cooley LLP acted as lead legal advisor to Super Group.
  • Herzog Fox & Neeman, Saiber LLC and Wiggin LLP also assisted with legal advice to Super Group.
  • Ropes and Gray acted as lead legal advisor to SEAH.
  • Blank Rome and CMS also assisted with legal advice to SEAH.
Recent Posts
by Marlena Haddad on 2022-12-01 at 11:25am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  NYSE president says IPO proceeds fall more than 90% while Nasdaq president remains hopeful for 2023, and Giuliani brothers sell pharma stocks as they invest in biotech SPACs NYSE president says IPO proceeds fall...

by Marlena Haddad on 2022-12-01 at 10:02am

InterPrivate II Acquisition Corp. (NYSE:IPVA) disclosed this morning that it has restructured its bonus share agreement in connection to its proposed merger with carsharing marketplace Getaround. The parties previously agreed to reserve and set aside the bonus shares, consisting of 9,333,333 shares, to be allocated to the non-redeeming public stockholders, the designees of EarlyBirdCapital and the...

by Nicholas Alan Clayton on 2022-12-01 at 9:31am

Iris Acquisition Corp. (NASDAQ:IRAA) has entered into a definitive agreement to combine with biotech firm Liminatus at an enterprise value of $334 million. La Palma, California-based Liminatus is a clinical-stage drug developer working on a range of cancer treatments utilizing both preventative vaccines and CAR-T therapies. The combined company is expected to trade on the...

by Marlena Haddad on 2022-12-01 at 9:22am

Lakeshore Acquisition Corp. I (NASDAQ:LAAA) announced this morning that it has entered into a non-redemption agreement and amended its purchaser support agreement with initial shareholders in connection to its proposed merger with medical device company ProSomnus. The SPAC entered into non-redemption agreements with certain institutional investors for an aggregate of 200,339 shares of the purchaser. These investors...

by Nicholas Alan Clayton on 2022-11-30 at 6:01pm

The companies and sponsors of six SPAC deals are set to see their lock-ups expire before the end of the year. This is a relatively small monthly total as the wave of deals from 2020 and 2021 are still hitting this milestone. The list nonetheless includes some major names starting with Forafric (NASDAQ:AFRI), which is...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved