Inspired Entmt Inc Stock Price, News & Analysis

Inspired Entertainment announced the closing of an underwritten public offering of 5,406,633 shares at $9.25 each, executed by The Landgame Trust, with an additional option for 810,995 shares exercised fully by underwriters. Inspired did not issue any shares and received no proceeds. The offering was managed by B. Riley Securities and Macquarie Capital, with registration statements declared effective by the SEC. Investors can access the offering documents on the SEC website.

Inspired Entertainment, Inc. (NASDAQ: INSE) announced the pricing of a public offering comprising 5,406,633 shares at $9.25 each, set to close on June 1, 2021. The offering will not involve new shares issued by Inspired, nor will it generate proceeds for the company. The underwriters have an option for an additional 810,995 shares. B. Riley Securities and Macquarie Capital are leading the offering, with other firms as co-managers. Relevant registration statements for the securities have been filed and are effective with the SEC.

Inspired Entertainment announced an underwritten public offering of 5,406,633 shares of its common stock by The Landgame Trust. The underwriters also have the option to purchase an additional 810,995 shares. Notably, Inspired is not issuing or selling shares and will not receive proceeds from this offering, except as detailed in the prospectus. B. Riley Securities and Macquarie Capital are the bookrunners, with Craig-Hallum, Roth Capital Partners, and Union Gaming as co-managers. The offering’s registration statements have been declared effective by the SEC.

Inspired Entertainment, Inc. (NASDAQ: INSE) has successfully closed a private offering of £235 million in senior secured notes due 2026, bearing an interest of 7.875% per annum. The funds raised will be utilized to repay existing loans totaling £145.8 million and €93.1 million, alongside related fees and general corporate purposes. Concurrently, a new £20 million super senior revolving credit facility has been established. The notes are guaranteed by Inspired and its subsidiaries and will pay interest semi-annually, starting December 1, 2021.

Inspired Entertainment has launched its remote gaming server platform in Michigan, with an initial set of interactive games now available. This move aligns with the company’s strategy to expand in North America, where it has seen rapid growth. Notably, Michigan reported $94.9 million in internet gaming receipts in April 2021. Inspired aims to leverage its extensive library of in-house developed games to capture market share as more states legalize iGaming.

Inspired Entertainment announced the pricing of its private offering of £235 million in 7.875% senior secured notes due 2026. This offering is set to close around May 20, 2021, and will be used to repay existing loans totaling £145.8 million and €93.1 million, along with covering associated fees and general corporate purposes. Additionally, a new £20 million Super Priority Senior Secured Revolving Credit Facility will be established. The issuance will target Qualified Institutional Buyers and will not be registered under the Securities Act.

Inspired Entertainment, Inc. (NASDAQ: INSE) announced a private offering of £235 million in senior secured notes due 2026. The offering aims to refinance existing liabilities, including a £145.8 million and €93.1 million term loan, alongside covering related fees. Proceeds will also fund general corporate purposes and close out derivative contracts. Inspired plans to establish a £20 million Super Priority Senior Secured Revolving Credit Facility as part of this refinancing initiative. The notes will be offered only to qualified institutional buyers, with no assurance of completion.

Inspired Entertainment reported first-quarter 2021 results, highlighting a total revenue of $22.8 million, despite a net loss of $16.7 million. The company saw a 90% year-over-year increase in aggregate online revenue, totaling $10.7 million. Adjusted EBITDA for the quarter reached $3.9 million, aided by $3.1 million from VAT-related income. The reopening of UK businesses is set for May 17, with full relaxation expected on June 21. Management anticipates third-quarter Adjusted EBITDA guidance of $28 million-$30 million, indicating a positive outlook post-COVID-19 closures.

Inspired Entertainment (NASDAQ: INSE) will report its financial results for the three months ended March 31, 2021, on May 10, 2021, before the market opens. A conference call will occur at 9:00 a.m. ET that day, providing insights into the company’s performance and trends. Investors can join via telephone or a live webcast available on its website. A replay will be accessible until May 17, 2021. Inspired operates globally, supplying gaming systems and content in around 35 jurisdictions.