Aspire Global Limited, Maltese technology and service provider, requested Swedish authorities the exclusion of its shares from the Nasdaq First North Premier trading bourse.
This step will create a solid ground for the impending merger of the company with the global lottery supplier NeoGames.
Trade Aspects
The buyout decision was made by the management of Aspire since NeoGames controls more than 98% of the supplier’s assets. When a positive response from authorities about delisting is received, the brand will be ready to become an official part of the buyer’s cooperation.
In January 2022, NeoGames offered a $ 477.2 million takeover option. In the event of an agreement, the Swedish giant will receive $ 12.26 for each share. After the offer, Aspire’s stock prices soared by 270%.
At the end of May, the buyback became irreversible, as all conditions for the completion of the deal were fulfilled. The Maltese brand notes that all stakeholders were obliged to transfer the remaining shares to the new parent company.
Further Directions
Based on the official press release, Tshashi Maimon, the Head of Aspire, is going to continue to lead the firm as president of the NeoGames iGaming department.
He comments that this decision is a natural development step that will allow both brands to strengthen their position. He adds that this will unite and boost the firms' capabilities and offers. The deal also enhances positioning for further distribution in new territories.
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