NetEnt Accelerating Payment of Red Tiger

Discussion in 'Casino Industry Buzz and Terms Alerts' started by MissExposé, Mar 24, 2020.

  1.  
    MissExposé

    MissExposé Active Member Staff Member

    Messages:
    385
    Likes Received:
    209
    Joined:
    Sep 18, 2018
    NetEnt is founded in 1996 and is now a leading digital entertainment company, providing premium gaming solutions to the online casino operators.

    NetEnt acquired Red Tiger in September 2019, and together with the acquisition, it was announced that an additional consideration could become payable in 2022 on an earn-out basis - Red Tiger's financial performance over the coming two years.

    To support the integration of the companies, NetEnt agreed with the sellers of the Red Tiger that half of the earn-out consideration is to be paid through a direct issue of new B-shares in the second quarter of 2020, and the rest as cash in the second quarter of 2021.

    The addendum to the SPA is subject to the approval of a directed issue of B-shares by the Annual General Meeting of the shareholders of NetEnt scheduled for April the 29th, 2020.

    Source: https://www.netent.com/en/index.php?weblink=bWFya2V0aW5nQGxhdGVzdGNhc2lub2JvbnVzZXMuY29tfDQ5OTd8MTA1MTg=
     

Share This Page