Acies Acquisition Corp. (ACAC) Shareholders Approve PLAYSTUDIOS Deal
Acies Acquisition Corp. (NASDAQ:ACAC) announced in a press release that its shareholders approved its combination with social gaming developer PLAYSTUDIOS, Inc. at a special meeting earlier today.
The press release did not mention redemption amounts, but it notes that approximately 97% of the votes cast at the special meeting approved of the business combination. The transaction is expected to close as soon as practicable, and the combined entity’s shares and warrants will start trading on the Nasdaq under the symbols, “MYPS” and “MYPSW”, respectively.
PLAYSTUDIOS started 2021 off strong with 27% growth in revenue, but ACAC dropped 2% to $9.63 following the meeting.
The parties initially announced the $1.1 billion deal on February 2. Las Vegas-based PLAYSTUDIOS develops casual free-to-play games that grant players real world benefits at client businesses in retail, travel and leisure as a gamified loyalty experience.
ADVISORS
- J.P. Morgan and LionTree Advisors are acting as financial advisors to PLAYSTUDIOS.
- Davis Polk is acting as legal advisor to the company.
- Morgan Stanley is acting as capital markets advisor to Acies Acquisition Corp.
- Latham & Watkins LLP is acting as legal advisor to Acies.
- J.P. Morgan, LionTree Advisors, Morgan Stanley, and Oppenheimer & Co. are acting as placement agents for the PIPE.