Canadian gaming provider Amaya Gaming has upsized its previously announced private placement offering of convertible preferred shares in order to meet additional demand.
The size of the offering will now stand at $180 million (€132 million) after Amaya and sole underwriter Canaccord Genuity Group agreed to increase the previous amount of $130 million by an additional $50 million.
As a result, the total gross proceeds from the issuance of shares will now be just under $1.1 billion.
Amaya noted that there are no other changes to the previously announced financing and that the upsized portion will be offered on the same terms as the original offering.
Each convertible preferred share has an initial principal amount of C$1,000 and is convertible, at the holder’s option, initially into around 41.67 common shares in Amaya.
The gaming provider expects the offering to close concurrently with the closing of its acquisition of the Rational Group, the holding company of online poker operator PokerStars, which was previously reported by iGaming Business.
Amaya intends to use the net proceeds from the issuance of convertible preferred shares to partially fund the acquisition deal.
source : www.igamingbusiness.com
