B2B gaming solutions provider GAN has received approval from the Nevada Gaming Commission for its merger with a subsidiary of Sega Sammy Creation.
GAN expects the deal to close later on this year or early next year, after further customary closing conditions are met.
“If the merger is completed, each GAN ordinary share issued immediately prior to the effective time of the merger will be automatically cancelled and converted into the right to receive US$1.97 in cash with respect to each such ordinary share, without interest and less applicable withholding taxes.
“Upon the completion of the merger, GAN will cease to be a publicly-traded company and its ordinary shares will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended.”
