Playmaker has withdrawn from the OTCQX Marketplace.
The digital sports media company announced that it would voluntarily pull its shares from the OTCQX on 2 January 2024.
This was due to the recent acquisition by Better Collective, which was announced on 6 November.
The transaction was worth €176m ($194m) and is expected to close in Q1 2024.
On the acquisition, Jordan Gnat, Playmaker Director and CEO, said: “Over the past 12 months I have been talking a lot about a transformational deal for Playmaker and its shareholders that will take this company to the next level.
“Their success is undeniable and their vision to become the leading digital sports media group aligns with us exactly.
“The cultures of our companies are very similar and I see the integration and synergies to be incredibly accretive to shareholders.”
As such, the shares will be pulled in light of the fees associated with remaining on the OTCQX until the acquisition closes.
OTCQX is an American marketplace, owned and operated by the OTC Markets Group.
Playmaker has stated that it expects its common shares to remain on the Pink Tier of the OTC Markets Group, although it cannot guarantee this.
Other remaining common shares will continue to trade on the TSX Venture Exchange, under the ticker ‘PMKR’.
When commenting on the acquisition, Jesper Søgaard, Better Collective Co-Founder and CEO, said: “Upon closing of the acquisition, we will be able to significantly grow our audience and reach a larger segment of generalist sports fans.
“For years, Playmaker has built incredibly strong sports media brands and excited sports fans across the Americas with high-quality sports content, cultivating a loyal and dedicated following.”
