DD3 II (DDMX) Shareholders Approve Codere Online Deal
by Marlena Haddad on 2021-11-19 at 8:53am

DD3 II(NASDAQ:DDMX) secured shareholder approval of its combination with gaming platform Codere Online in a special meeting yesterday.

Present at the special meeting were holders of 11,086,703 shares of common stock, par value $0.0001 per share, representing approximately 69.31% of the voting power.

Although today’s press release and 8-K did not disclose redemption amounts, DDMX traded above $10 throughout its redemption deadline November 16.

The deal is expected to close on November 30, and the combined company’s shares and warrants are expected to begin trading on the Nasdaq Capital Market under the symbols “CDRO” and “CDROW,” respectively, following the consummation of the business combination.

DD3 II initially announced its $353 million deal with Codere in June. Madrid-based Codere Online is the internet division of the Codere Group (MD:CDRE), which operates physical casinos in Spain, Italy, Mexico, Colombia and Panama. Codere Online offers sports betting and online casino features on the web and mobile.

DD3 completed its first deal when it closed its transaction with Betterware (NASDAQ:BWMX) on March 13, 2020. Betterware sells appliances and household goods to the Mexican market through an ecommerce portal.


ADVISORS

  • Stifel is serving as financial and capital markets advisor to Codere Online.
  • Davis Polk & Wardwell is acting as U.S. legal advisor to Codere Online.
  • Clifford Chance is acting as legal advisor to Codere Online in Luxembourg.
  • Deloitte is serving as accounting advisor to Codere Online.
  • EarlyBirdCapital is acting as financial and capital markets advisor as well as placement agent to DD3.
  • Greenberg Traurig and Pérez-Llorca are acting as legal advisor to DD3.
  • Stibbe is acting as legal advisor to DD3 in Luxembourg.
Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved