Allywn Entertainment and Cohn Robbins Holdings have announced a registration statement that approves their proposed business combination (CHRC). Allywn is a multi-national lottery operator while the Delaware-based Cohn Robbins is a ‘blank check’ company that enables all types of business transactions.
This business combination was declared effective by the US Securities and Exchange Commission (SEC). It will allow Allywn, primarily based in Europe, to expand its operations in the US. CHRC shareholders have been encouraged to read the registration statement, which is set to be filed by the SEC before any voting or investment decisions are made.
CHRC also announced that it has set an ‘extraordinary meeting date’ for September 7 when it will vote on the business combination. The closing of the deal is still subject to approval by CHRC’s shareholders (exclusively those who have held shares since the ‘record date’ of August 15, 2022). After the extraordinary meeting date, the closing conditions for the deal will have been met.
Once the business combination is closed, the combined company is expected to be listed on the New York Stock Exchange. It will open with Class B ordinary shares and warrants under the ticker symbol ‘ALWN’ and ‘ALWN.WS’, respectively.
Allwyn is a major player in the $300bn global lottery industry, operating lotteries through retail and online channels in multiple European countries, including Austria, the Czech Republic, Greece, Cyprus and Italy. CRHC believes Allwyn is well-positioned to seize on both organic and inorganic growth opportunities and gain access to the US market.
