NeoGames seeks $81.7M Nasdaq IPO
NeoGames which provides online gaming technology and services to lottery operators has announced terms for its IPO.
The Tel Aviv, Israel-based company plans to raise $72 million by offering 4.8 million shares (45% insider) at a price range of $14 to $16. At the midpoint of the proposed range, NeoGames would command a fully diluted market value of $392 million.
The Company has granted the underwriters a 30-day option to purchase up to an additional 721,128 ordinary shares at the initial public offering price. The shares will be listed on The Nasdaq Global Market and trade under the ticker symbol “NGMS” beginning on November 19, 2020. The offering is expected to close on November 23, 2020, subject to the satisfaction of customary closing conditions.
Stifel is acting as the lead bookrunner for the offering and as representative of the underwriters, and Macquarie Capital and Truist Securities are acting as joint bookrunners for the offering.