Playmaker Capital settles earn-out payment, grants 400,000 common share purchase options
The current share price will expire after ten years.
Playmaker Capital Inc. has granted 400,000 options to buy its common shares to one of the company directors. The Canadian digital sports media company has made the purchase options available under the terms of its omnibus equity incentive plan.
The options’ exercise price was set at $0.45 per share. The rate will expire ten years after the grant date.
Playmaker will release 25% of its common shares on the grant’s first anniversary date. The remaining shares will vest in 1/48 increments on every following monthly anniversary.
The company has also settled a portion of the earn-out consideration following its acquisition of Futbol Sites. The vendors will be paid close to $6.3m. The total earn-out breaks down to a cash payment of $4.6m and the issuance of more than 3.7 million Playmaker common shares at a deemed price of $0.45 each.
The share amount was determined by a weighted average trading price during a 20-day period that ended on April 29, 2022.
Playmaker Capital is a digital sports media company with a focus on intersecting betting, sports, technology and media. It is based in Toronto, Ontario.
The company recently acquired The Sports Drop, a US media company. The transaction also included an addition to Playmaker’s senior leadership team, with Mike Bellom stepping into the role of Head of Paid Media.
In Latin America, Playmaker recently signed a deal to purchase Futmarketing, a digital media company in Brazil that focuses on providing editorial content to soccer platforms.
Playmaker properties has gained more than 106 million followers on social media through various platforms such as Facebook, Twitter, TikTok, Instagram, YouTube and Twitch, according to its latest progress report.
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