By Rebecca Melvin
New York, June 23 – Amaya Gaming Group Inc. priced an upsized $180 million of convertible preferred shares at C$1,000 per share, with no cash dividend paid and at a premium to existing shares of 20%, according to a syndicate source.
The deal was upsized from an initially talked $130 million.
Canaccord Genuity Corp. was the bookrunner for the offering, which is expected to close Sept. 30.
GSO Capital Partners LP has also agreed to purchase $600 million of convertible preferred shares, and the investment manager has agreed to purchase about $271 million of convertible preferred shares.
Each convertible share is convertible into about 41.67 common shares based on a conversion price of C$24 per share.
The shares are non-callable for three years.
Proceeds will be used to partially fund the purchase price of the Rational Group for $4.9 billion. Also being used to finance the acquisition are cash on hand and additional credit and equity financing, including $2.1 billion in senior secured notes.
Based in Montreal, Amaya makes and sells technology-based gaming solutions for the regulated gaming industry.
| Issuer: | Amaya Gaming Group Inc.
|
| Issue: | Convertible preferred shares
|
| Amount: | $180 million, upsized from $130 million
|
| Underwriter: | Canaccord Genuity Corp.
|
| Dividend: | No cash dividend paid
|
| Conversion price: | C$24.00
|
| Conversion premium: | 20%
|
| Calls: | Non-callable for three years
|
| Settlement date: | Sept. 30
|
| Stock symbol: | TSX Venture: AYA
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