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.
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...