EveryMatrix has made a public offer to purchase all shares of the Swedish online casino game developer Fantasma Games AB, proposing SEK 59 ($5.79) per share in cash.
The deal values the company at approximately SEK 209.8 million ($19 million). Fantasma shares are traded on the Nasdaq First North Growth Market.
The proposed price is 21.4% higher than the closing price of SEK48.60 ($4.42) per share on September 17, 2024, the last trading day before the announcement.
The offer also represents a 27.7% premium over the 30-day volume-weighted average price and a 33.4% premium compared to the average price of Fantasma shares over the last 90 days.
An independent committee of Fantasma, consisting of board members Antonia Svensson, Johan Styren and Johan Köningslehner, has recommended that shareholders accept this offer.
Their recommendation is based on an analysis by financial advisors Svalner Skatt & Transaktion KB, who confirmed the financial fairness of the proposal.
The major shareholders, controlling 50.79% of Fantasma’s shares, including Fredrik Johansson and KL Capital AB, have agreed to accept the offer under certain conditions. For the acquisition to proceed, EveryMatrix will need to obtain more than 90% of the shares.
The acceptance period for the offer is set from September 19 to October 10, 2024, although EveryMatrix reserves the right to extend this period. The completion of the deal is subject to regulatory approval and other customary conditions.
Previously, EveryMatrix expanded its content offering through partnerships, including a recent collaboration with the game studio Peter & Sons, which provided access to a broader range of titles for its iGaming platform, CasinoEngine.
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