Golden Matrix signs Amended and Restated Purchase Agreement to buy MeridianBet

June 30, 2023
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The new agreement extends the closing date of the transaction and reduces the cash Golden Matrix has to pay at closing.

The Golden Matrix Group, a developer of online gaming and eCommerce platforms, has entered into an Amended and Restated Purchase Agreement to buy MeridianBet Group, a Southeast European business-to-business sports betting and gaming group.

The Amended and Restated Purchase Agreement extends the required closing date of the transaction and modifies additional terms of the initial purchase agreement.

Among the changes, the cash the Golden Matrix Group is required to pay at closing has been reduced from $50m to $30m, with $20m in non-contingent cash consideration due post-closing.

The Golden Matrix Group is working to obtain the financing needed to complete the transaction and plans to file the necessary proxy statement to seek shareholder approval for the acquisition in the third quarter of 2023. The acquisition is expected to close in the third or fourth quarter of 2023.

Anthony Brian Goodman, Golden Matrix Group CEO, said, “In consideration of the reduced cash amount required to be paid at the closing of the transaction, the revised cash and stock transaction now has a value of approximately $331m, with the stock consideration priced at $3 per share – currently an approximate 38% premium to GMGI’s 30-day VWAP closing price (with 82,141,857 shares of common stock due at the initial closing)."

Golden Matrix Group, based in Las Vegas, is traded on NASDAQ under the ticker GMGI. It develops and licenses gaming platforms and also owns MEXPLAY, a regulated online casino in Mexico.

MeridianBet Group, founded in 2001, operates in 15 jurisdictions across Europe, Africa and South America. Golden Matrix’s acquisition of MeridianBet will grow Golden Matrix’s reach in Eastern Europe.


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