Aspire Global applies for delisting of shares due to NeoGames merger
The Aspire Global board of directors has applied for a delisting of the company’s shares from the Nasdaq First North Premier.
NeoGames requested the application, as the company aims to finalise its takeover of Aspire Global. As of 4 June 2022, NeoGames held approximately 98.25% of the total outstanding shares and votes in Aspire, and NeoGames has since requested a compulsory redemption of the remaining shares.
The last day for trading in Aspire shares on Nasdaq First North Premier is yet to be announced, but will be known as soon as the company receives a response from Nasdaq Stockholm AB.
NeoGames made the offer to acquire Aspire on 17 January 2022 for a price of SEK 111.00 ($12.29) per share. At the time, the company was valued at between $500m-600m.
The Gibraltar Gambling Commission and the North Macedonia Competition Authority issued approvals for the takeover in May 2022.
On 30 May 2022, NeoGames extended the acceptance period, originally 25 May 2022, to 14 June 2022 at 5.00pm (CEST), to give Aspire shareholders more time to accept the terms of the offer. As per the terms laid out in the agreement, Aspire will contain toto act independently after the takeover, becoming part of the wider group as an iGaming division. Aspire CEO Tshashi Maimon will remain in place and be appointed as President of the NeoGames Group.
Speaking in January 2022, Maimon said: “I strongly believe that the two companies are well matched with a solid cultural connection forged over many years of working together, which will facilitate meaningful revenue synergies."