Novibet to go public in 625m merger

Novibet will go public via a $625m merger with Artemis Strategic Investment Corporation, a special purpose acquisition company (SPAC)

Novibet will go game public via a $625m merger with Cynthia Strategic Investment Corporation, a special resolve acquisition fellowship (SPAC).

In a reefer announcement, it was revealed that Artemis testament suit a new, totally owned subsidiary of Novibet inwards a multimillion-dollar business deal based on the latter’s pre-transaction endeavour valuation.

Once completed, Novibet’s ordinary shares will be listed on the Nasdaq Stock Market, with Artemis founders and existing Novibet stakeholders to own more or less 75% of the combined company at close.

Novibet, an iGaming and online betting operator, is currently fighting(a) across 4 regulated European markets: Greece, Ireland, Italy and Malta.

The companionship will utilise the proceeds from the merger to put to death what it calls a “multi-pronged development strategy.”

This involves strengthening its attitude in the company’s existing European markets spell also sounding to go into young ones, including Sweden, the Netherlands, Romania, Belgium, Hungary, Germany, Anatole France and Spain.

Novibet is also preparation an accounting entry into unexampled Second Earl of Guilford American markets, as well as multiple Latin American markets.

“Novibet has a strong track record of success underdeveloped a superordinate technical program to speech the planetary iGaming opportunity inward a style that delivers profitable financial carrying into action and positively charged cash flow,” said Holly Gagnon, Chairperson and Co-Chief Executive Officer of Artemis.

“This record, combined with its demonstrated ability to successfully and profitably go into unexampled markets as swell as the important opportunity to leverage its competitive advantages inward new markets, including inward Second Earl of Guilford America, aligns with our original investment thesis and makes Novibet an apotheosis partner for Artemis.”