Playmaker Capital Inc. Enters Into Definitive Agreement to Be Acquired by Better Collective - Seite 2

The Transaction is to be effected by way of a court-approved plan of arrangement and is expected to close in the first quarter of 2024, subject to receipt of Playmaker shareholder and court approvals, a required regulatory approval and customary closing conditions. Completion of the Transaction is not subject to any financing condition.

Jordan Gnat, Director & CEO of Playmaker, says: “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. Today’s announcement does exactly that, and I could not be more excited for the Playmaker family to join the Better Collective family. 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.”

Jesper Søgaard, Co-founder & CEO of Better Collective, says: “Acquiring Playmaker is in many ways transformational for Better Collective and will be an important milestone in our journey towards becoming the leading digital sports media group. 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. The skilled team behind Playmaker brings a unique set of media competencies that will boost our organization. Saying that I am excited to welcome the new team to the Better Collective group would be an understatement.”

Recommendation of the Playmaker Board of Directors

Playmaker’s board of directors has unanimously concluded that the Transaction is in the best interests of Playmaker and recommends that Playmaker shareholders vote in favor of the Transaction. Canaccord Genuity Corp. (“Canaccord”), independent financial advisor to Playmaker’s board of directors, has delivered a fairness opinion to Playmaker’s board of directors stating that, as of the date thereof and, based upon and subject to the assumptions, qualifications, and limitations stated in such opinion and such other matters Canaccord considered relevant, the consideration to be received under the Arrangement by shareholders of Playmaker is fair, from a financial point of view, to the Playmaker shareholders (other than JPG Investments Inc., Jordan Gnat and their affiliates).