Better Collective Completes Acquisition of Playmaker Capital

Date: 2024-02-07 Author: Dima Zakharov Categories: EVENTS
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Better Collective's Major Acquisition

Better Collective, a prominent player in the digital sports media landscape, has successfully concluded its acquisition of Playmaker Capital, a Toronto-based digital sports media group. This acquisition, priced at CAD 0.70 per share, is now considered Better Collective's second-largest to date.

Financial Details and Delisting

Better Collective executed the acquisition by acquiring all issued shares of Playmaker Capital, with a combination of cash and Better Collective shares. Following this transaction, Playmaker Capital's common shares are set to be delisted from the TSX Venture Exchange, and the company will no longer be a reporting issuer.

Strategic Share Capital Increase

In tandem with the acquisition, Better Collective's board has decided to bolster the company's share capital. This entails the issuance of 1,755,429 new ordinary shares, with a nominal value of EUR 0.01. This move further strengthens Better Collective's position in the digital sports media market.

Revised Financial Targets

The acquisition has prompted Better Collective to reassess its long-term financial targets for 2027. While maintaining a revenue CAGR of +20% and a net debt to EBITDA ratio below 3x, the company's confidence in achieving these targets has been amplified with the integration of Playmaker Capital.

Excitement from Executives

Jesper Søgaard, Better Collective's co-founder and CEO, expressed enthusiasm about the completed deal, emphasizing its significance in realizing the company's vision. Similarly, Jordan Gnat, Playmaker Capital's co-founder and CEO, highlighted the beginning of a new phase and thanked shareholders for their support.

Promising Outlook

With the integration of Playmaker Capital into its operations, Better Collective remains optimistic about meeting its long-term targets. The acquisition underscores the company's commitment to solidifying its position as a leading digital sports media group in the industry.
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