On April 12 last year, Evolution Gaming made a deal to acquire the entire issued share capital of Big Time Gaming by means of paying a whopping sum of up to $534.5m (€450m) in the form of cash and Evolution shares.
All of the regulatory approvals required to complete the transaction have been received, and Evolution Gaming has finally completed the transaction on Wednesday and acquired the shares.
On Wednesday, the board of directors of Evolution resolved to issue 1,105,032 shares. The right to subscribe for the new shares accrues, with deviation from the shareholders' preferential rights, to the sellers of Big Time who have subscribed for the shares against set-off of their receivable of US$166,300,000 against the newly issued shares, according to a press release.
The subscription price in the issue is US$150 per share, in accordance with the agreement, is equal to the volume-weighted average price of the Evolution share on Nasdaq Stockholm during the period March 23 - April 7, 2021.