5th May 2020 15:57
(Alliance News) - Shares in GAN PLC were suspended in London on Tuesday following the successful pricing of its US initial public offering.
Shareholders in the gambling software supplier will receive one share in GAN Ltd for every four shares of GAN PLC held. The GAN Ltd shares will be listed on the Nasdaq Capital Market.
GAN will offer 6.4 million shares at a price of USD8.50 per share, valuing the IPO at USD54.2 million.
Proceeds from the issued shares will go towards working capital and general corporate purposes, including sales & marketing activities and product development.
GAN's shares are to be delisted from the London Stock Exchange on Wednesday, in preparation for its listing in New York.
By Dayo Laniyan; [email protected]
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