Playmaker Capital Inc. acquired by Better Collective A/S
Goodmans LLP acted for Playmaker Capital Inc. in connection with its sale by way of plan of arrangement under the Business Corporations Act (Ontario) to Better Collective A/S.
Playmaker Capital Inc., the digital sports media company that delivers authentic content experiences through its portfolio of sports media brands, entered into a definitive agreement to be acquired by Better Collective A/S, a leading digital sports media group that owns and operates a number of global and national sports brands, including HLTV and Action Network, for total consideration of approximately EUR176 million.
Pursuant to the arrangement, Better Collective acquired all of Playmaker’s issued and outstanding common shares (the “Common Shares”). Shareholders of Playmaker, other than certain rollover shareholders, received, for each Common Share held, at the election of such Playmaker shareholder, either (a) C$0.70 in cash, (b) 0.0206 of an ordinary share in the capital of Better Collective (each ordinary share, a “Better Collective Share”), or (c) a combination of C$0.245 in cash and 0.0134 of a Better Collective Share, in each case subject to proration to ensure that the aggregate of the cash consideration payable under the Arrangement does not exceed 35% of the total consideration payable to Playmaker shareholders and the aggregate value of the share consideration issuable under the Arrangement does not exceed 65% of the total consideration payable to Playmaker shareholders.
The Common Shares will be delisted from the TSX Venture Exchange, and Playmaker will cease to be a reporting issuer under applicable Canadian securities laws.
Featured Work
-
Capital Markets
Saba Capital reaches agreement with Citadel Income Fund
Goodmans LLP acted for Saba Capital Management, L.P. in relation to its agreement with Citadel Income Fund and its manager, Artemis Investment Management Limited following a protracted dispute… -
Mergers and Acquisitions
Luxor Capital files proxy statement to oppose Ritchie Bros.' value-destructive merger with IAA
Goodmans LLP acted for Luxor Group Capital, LP in connection with its opposition to proposals to be presented at the upcoming special meeting of RBA shareholders relating to RBA’s proposed merger with… -
Mergers and Acquisitions
Maple Leaf Foods to spin off pork business into new company
Goodmans LLP is acting for McCain Capital Inc. and the McCain family, the largest shareholder of Maple Leaf Foods Inc., in connection with Maple Leaf Foods’ proposal to separate into two independent… -
Mergers and Acquisitions
Scholastic closes investment in 9 Story Media Group
Goodmans LLP advised 9 Story Media Inc. in the acquisition by Scholastic Corp. of 100% of the economic interest and a minority of voting rights in 9 Story for C$250 million from ZMC and other sellers… -
Mergers and Acquisitions
Primo Water and BlueTriton agree to merge
Goodmans LLP is advising Primo Water Corporation in its definitive agreement to merge with an affiliate of BlueTriton Brands, Inc., to create a leading North American pure-play healthy hydration… -
Restructuring
Contract Pharmaceuticals CCAA proceedings and sale to Aterian Investment Partners
Goodmans LLP acted as counsel to Contract Pharmaceuticals Limited and its affiliates in connection with their CCAA proceedings and other restructuring…