Playmaker Capital Inc., the digital sports media company that delivers authentic content experiences through its portfolio of sports media brands, has agreed to sell to Better Collective A/S, a Denmark-based digital sports media group that owns and operates a number of global and national sports brands, including HLTV and Action Network, for total consideration of approximately $258 million (EUR176 million).
Shareholders of Playmaker, other than certain rollover shareholders, received, for each Common Share held, at the election of such Playmaker shareholder, either (a) C$0.70 in cash, (b) 0.0206 of an ordinary share in the capital of Better Collective (each ordinary share, a “Better Collective Share”), or (c) a combination of C$0.245 in cash and 0.0134 of a Better Collective Share, in each case subject to proration to ensure that the aggregate of the cash consideration payable under the Arrangement does not exceed 35 percent of the total consideration payable to Playmaker shareholders and the aggregate value of the share consideration issuable under the Arrangement does not exceed 65 percent of the total consideration payable to Playmaker shareholders.
Goodmans LLP and Dorsey & Whitney LLP acted for Playmaker as Canadian and US legal counsel, respectively.
Goodmans team was led by Brandon Hoffman and includes Duncan Lurie, Matt Erdman, Josh Zelikovitz, Jarrett Freeman, Colin Romano, Dan Dedic, and Rachel Kurtzer.
Stikeman Elliott LLP and Greenberg Traurig, LLP acted for Better Collective as Canadian and US legal counsel, respectively.
Stikeman Elliott’s team includes Mario Nigro, John Lee, Joseph Bricker, Wei Yan, Ian Gilliland and Taisa Morsky (M&A), Justin Parappally and Andie Lipetz (Banking and Finance), Michael Kilby, Peter Flynn and Justine Reisler (Competition and Foreign Investment), Khalfan Khalfan, Stephanie Weschler, Kristopher Noonan, @Ashley Mulrooney, Jillian Skinner, Jennifer McBean and Antoine Métayer (Employment), Shawn Smith and Sara Shayan (Information Technology), Ryan Sheahan and Tessa Martel (Intellectual Property), Jeff Li and Oriane Roy (Montreal Corporate), Mark Firman and Sagar Darar (Pensions and Benefits), David Elder (Privacy and Data Protection), Neil Shapiro and Frank Bozzo (Real Estate), Shawn Neylan and Warren Ferguson (Sanctions and Anticorruption), Nathaniel Lacasse and Jinnie Liu (Tax), Zev Smith (Litigation), Shane Barbeau, William Brown, Andrew Neayem and Tamer Ouellette (Articling Students), Theresa Gregoire and Carolina Toppa (Corporate Clerks), Beatrice Lorusso (Search Clerk), and Sabina Delvecchio (Securities Clerk).