The business combination was nearly unanimously approved by shareholders at a special meeting earlier today. About 77% of shares participated in the vote and only 1,296 were redeemed for cash, removing a negligible sum from dMY II’s trust at $10.00 per share.
This is an encouraging result in a generally down market for SPACs. dMY II has been resilient through the slump, however, never trading lower than $14.35 over the past three months and opening ahead of the vote at $19.00.
The parties are now likely to close the transaction in the coming days, although the filing did not name a specific date. Upon close, the combined company’s shares and warrants are expected to trade on the NYSE under the symbols “GENI” and “GENI.WS”, respectively.
dMY II initially announced the $1.5 billion deal on October 27. London-based Genius Sports supplies sports betting operators with official data and streaming media services and is partnered with about 500 sports organizations including the NBA, Premier League and NCAA.
For full vote tallies, click HERE.
- Goldman Sachs & Co. LLC is acting as exclusive financial advisor to dMY II.
- Oakvale Capital LLP is acting as exclusive financial advisor to GSG.
- Goldman Sachs & Co. LLC acted as lead placement agent for the PIPE transaction.
- Credit Suisse Securities (USA) LLC and Oakvale Capital LLP also acted as capital markets advisors and placement agents for the PIPE transaction.
- Kirkland & Ellis LLP is serving as legal advisor to GSG.
- White & Case LLP served as legal advisor to dMY II.
- Goldman Sachs & Co. LLC acted as the sole bookrunner of dMY II’s IPO.
- Needham & Co. also acted as underwriter.