Stockholders approve Everi acquisition by Apollo Funds
As previously announced, Everi stockholders will receive $14.25 per share of common stock they own immediately prior to the effective time of the merger.
Key Points
- At the meeting, approximately 99.88% of the shares voted in favor of the merger, which represents nearly 71.5% of the total outstanding shares of Everi common stock
- Following the vote, the proposed transaction is expected to close by the end of Q3 in 2025
Everi Holdings announced that stockholders have approved its impending acquisition by a newly formed holding company, Apollo Funds. Apollo Funds is owned through funds managed by affiliates of Apollo Global Management.
On July 26, International Game Technology (IGT) and Everi announced the finalization of sale proceedings in an all-cash deal, valued on a combined basis at $6.3bn. Following closure of the arrangement, both IGT Gaming and Everi will proceed as privately owned companies.
“We are pleased that our stockholders supported our transaction with the Apollo Funds,” Everi Board of Directors Chairman Michael Rumbolz said.
“We now shift our focus to the important next steps toward completing the transaction and maximizing value for Everi stockholders.”
As previously announced, Everi stockholders will receive $14.25 per share in cash for every share of common stock they own immediately prior to the effective time of the merger.
Good to know: Everi unveiled new slot games at the 2024 Global Gaming Expo (G2E), with each scheduled to be released in the coming months
At the meeting conducted on October 3, approximately 99.88% of the shares voted in favor of the merger, representing nearly 71.5% of the total outstanding shares of Everi common stock as of the meeting date.
Under the assumption closing conditions will be satisfied in a timely fashion, the proposed transaction is expected to be completed by the end of Q3 in 2025.
The final voting results of the proposals will be set forth in a Form 8-K, filed by Everi with US Securities and Exchange Commission.
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