NeoGames made the offer to acquire Aspire on 17 January 2022, at a price of SEK 111.00 ($12.29) per share.
The acceptance period was then extended from 25 May 2022 to 14 June 2022 at 5.00pm (CEST).
The settlement date for shares tendered during this extended acceptance period is expected to be around 30 June. Any outstanding shares will be subject to a squeeze-out, which is expected to have been completed by 11 August.
Moti Malul will continue as CEO of the newly combined company; he will work alongside CFO Raviv Adler and President Tsachi Maimon.
NeoGames' current board of directors will remain unchanged.
“We are thrilled to complete this strategic transaction with the Aspire Global team, and to commence working on identifying potential opportunities to capitalise on the merger of our platforms,” said Malul.
The offer was funded through a combination of approximately $264m in cash and around 7.6 million newly issued NeoGames shares.
NeoGames received fully committed debt financing from Blackstone Alternative Credit Advisors, in the form of a €187.7m ($198m) term loan, this loan was used to partially fund the cash terms of the offer.
“We at Aspire Global are extremely excited to join the NeoGames team to execute on our mutual goals following the completion of this transaction. We view this transaction as the natural next step for our company, as we further enhance our scale and competitive position across all business lines,” said Maimon.
