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GAN Appoints B. Riley FBR to lead U.S. Listing

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RNS Number : 6587T
GAN PLC
18 November 2019
 

 

 

LONDON STOCK EXCHANGE (LSE): GAN

GAN Appoints B. Riley FBR to lead U.S. Listing

 

London | November 18, 2019: GAN plc (LSE: GAN), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content ("GAN" or "the Company"), has appointed B. Riley FBR, Inc. a subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY) as the Company's lead banking adviser as part of the Company's planned reorganization and listing on a recognized investment exchange in the United States.

 

This key appointment is made by the Company in pursuit of its stated equity capital markets strategy of making GAN's equity readily available to the U.S. investor community, to improve liquidity and maximize shareholder value.

 

The Company's Board of Directors selected B. Riley FBR based on its demonstrated capital markets track record working with emerging U.S. public companies in the technology sector, including Software-as-a-Service vendors.  The Company's Board of Directors believes B. Riley FBR is ideally suited to support the Company's achievement of its U.S. listing objective.

 

The Company does not intend to disclose or comment further on developments related to its U.S. listing unless and until the Board of Directors of GAN has approved a specific transaction or has otherwise determined that further disclosure is appropriate in consultation with its legal and financial advisors. There can be no assurance that the U.S. listing process will result in any particular outcome. Shareholders are encouraged to read the Company's London Stock Exchange AIM filings which are available online at www.GAN.com and www.LondonStockExchange.com.

 

Dermot Smurfit, Chief Executive Officer of GAN commented: 

 

"We are excited to appoint one of the leading financial advisory firms in the United States to support GAN through the next few months, with the shared objective of obtaining a U.S. listing as soon as reasonably practical. This is the first visible evidence of a process which is already substantially underway, and we look forward to updating the market when appropriate and in line with our continuing compliance obligations."

 

This press release is not an offer of securities for sale in the United States, or in any other jurisdiction.  Securities may not be offered or sold in the United States absent registration or an exemption from registration.  Any public offering of securities to be made in the United States will be made only by means of a prospectus that will contain detailed information about the Company and management as well as financial statements.  The Company intends to register an offering of securities in the United States, but no terms have been established and no registration statement has been filed to date. 

 

About GAN

 

GAN plc is a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the land-based casino Industry with additional operations throughout Europe.

 

The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has fourteen (14) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; three (3) clients of real money Regulated Gaming in New Jersey; two (2) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.

 

Simulated Gaming™ is now proven to drive increased visitation on-property among high-value casino patrons. Simulated Gaming™ enables land-based US casinos to increase their 'share of wallet' among existing patrons as well as reactivate long-term lapsed patrons to return on-property.

 

For more information please visit www.GAN.com

 

 

 

 

For further information please contact:

 

GAN

The Equity Group

Jack Wielebinski

Adam Prior

Head of Investor Relations

[email protected]

[email protected]

+1 212 371 8660

+1 214 799 4660

 

 

Media Enquiries: Newgate Communications

 

Adam Lloyd

Giles Croot

 

[email protected]

 

+44 (0) 20 3757 6880

 

 

Davy (Nominated Adviser and Joint Broker)

 

 

John Frain / Barry Murphy

 

 

+353 (0) 679 6363

 

 

 

Liberum (Joint Broker)

 

 

Neil Patel / Cameron Duncan

 

 

+44 (0) 20 3100 2000

 

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: GAN PLC

Price: 145

Market: AIM
Market Cap: £123.55 m
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