Innova Gaming Group up for public offering as Amaya announces filing of preliminary prospectus
30 March 2015
Amaya announced earlier today that Innova Gaming Group, a subsidiary of Amaya, has filed and obtained a receipt for a preliminary prospectus in respect of Innova Gaming Group’s proposed initial public offering (IPO) of common shares with the securities regulatory authorities of all provinces and territories in Canada. The offering contemplates a treasury offering of common shares by Innova Gaming Group and a secondary offering of common shares by Amaya, which will receive the net proceeds for the common shares sold by it under the initial public offering (IPO)
Innova Gaming Group was formed in connection with the initial public offering (IPO), and upon completion of the Offering, it will hold all the shares of Diamond Game Enterprises, a games designer and developer that services games, systems and tickets in the North American gaming market. The decision to spin off its subsidiary, Diamond Game is consistent with Amaya’s previously announced intention to explore various strategic opportunities to divest its B2B assets, to maximize shareholder value by facilitating the repayment of indebtedness and/or the repurchase and cancellation of Amaya’s common shares.
The the initial public offering (IPO), is being made through a syndicate of underwriters spear headed by Canaccord Genuity and including Cantor Fitzgerald Canada Corporation, Cormark Securities Inc., Desjardins Securities Inc., Dundee Securities Ltd. what’s more, Clarus Securities Inc. The preparatory outline is still subject to fulfilment or correction. Duplicates of the preparatory plan are online or from the supporters named in the preparatory outline. This press release does not constitute an offer to offer or a sales of an offer to purchase, nor there be any deal or any acknowledgement of an offer to purchase these securities until a receipt for the last plan has been issued.
The securities offered have not and won’t be enlisted under the United States Securities Act of 1933, as altered (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold, straightforwardly or in a roundabout way, inside the United States (as characterized in Regulation S under the U.S. Securities Act) other than as per an accessible exclusion from the enlistment prerequisites of the U.S. Securities Act. This press release does not constitute an offer to offer or a requesting of an offer to purchase any securities of Innova inside the United States.