NeoGames Announces Pricing of $81.7 Million Initial Public Offering
Rhea-AI Summary
NeoGames S.A. (Nasdaq: NGMS) announced the pricing of its initial public offering (IPO) of 4,807,522 ordinary shares at $17.00 each. The IPO includes 2,627,061 shares offered by the company and 2,180,461 by selling shareholders. An additional 721,128 shares may be purchased by underwriters within 30 days. The shares will trade on Nasdaq under the symbol 'NGMS' starting November 19, 2020, with the offering expected to close on November 23, 2020. Stifel is the lead bookrunner, with Macquarie Capital and Truist Securities as joint bookrunners.
Positive
- Successful pricing of 4,807,522 shares at $17.00 indicates strong investor interest.
- Underwriters have the option to purchase an additional 721,128 shares, potentially increasing proceeds.
- Expected listing on Nasdaq could enhance company visibility and trading liquidity.
Negative
- The IPO includes a substantial portion of shares being offered by selling shareholders, which may signal dilution risk.
- The necessity for a 30-day period for underwriters to exercise options may indicate uncertainty about demand.
LUXEMBOURG, Nov. 18, 2020 (GLOBE NEWSWIRE) -- NeoGames S.A. (Nasdaq: NGMS) (“NeoGames” or the "Company"), a technology-driven provider of end-to-end iLottery solutions, announced today the pricing of its initial public offering of 4,807,522 ordinary shares, consisting of 2,627,061 ordinary shares being offered by the Company and 2,180,461 ordinary shares being offered by certain selling shareholders, at a price of
Stifel is acting as the lead bookrunner for the offering and as representative of the underwriters, and Macquarie Capital and Truist Securities are acting as joint bookrunners for the offering.
A registration statement on Form F-1 relating to these securities was declared effective by the U.S. Securities and Exchange Commission on November 18, 2020. This offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, telephone: +1 415 364 2720, or email: syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About NeoGames
NeoGames is a technology-driven innovator and a global provider of iLottery solutions for national and state-regulated lotteries. NeoGames’ full-service solution combines proprietary technology platforms with the experience and expertise required for successful iLottery operations. NeoGames’ pioneering game studio encompasses an extensive portfolio of engaging online lottery games that deliver an entertaining player experience. As a trusted partner to lotteries worldwide, the Company works with its customers to maximize their success, offering a comprehensive solution that empowers them to deliver enjoyable and profitable iLottery programs to their players, generate more revenue, and direct proceeds to good causes.
Contacts
Investor Contact:
ir@neogames.com
Media Relations:
pr@neogames.com
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