Golden Matrix signs revised agreement with MeridianBet
Back at the start of the year, the two companies signed a contract, through which Golden Matrix would acquire MeridianBet. The terms of the deal involved 70 million dollars paid in cash to the latter’s shareholders, as well as the issuance of more than 65 million of the former’s shares at a price of 3.5 dollars per share. This would result in a total purchase price of just under 300 million dollars.
Under the terms of the revised agreement, however, Golden Matrix’s cash consideration will be reduced to 50 million dollars, although the company will have to pay only 30 million dollars up front, with 20 million dollars being due at a later date. Additionally, the developer will also issue just over 82 million of its shares to MeridianBet’s shareholders, which will be priced slightly lower at 3 dollars per share.
This will mean that the developer’s total consideration for MeridianBet will be worth just over 330 million dollars, an increase of a little over 10% in comparison to the initial terms of the deal. The contract was originally expected to be finalized in the first half of the year, however, it is now estimated to be completed in the coming two quarters.