NYX Gaming Group completes CA$45m IPO
Las Vegas-headquartered firm now listed on the Toronto Stock Exchange Venture Exchange
NYX Gaming Group has raised CA$45m after completing an initial public offering (IPO) and secondary offering, and is now listed on the Toronto Stock Exchange.
The Las Vegas-headquartered firm issued 5,715,000 shares and an aggregate of 7,143,000 shares were sold by investment company Verdane at $3.50 each.
The IPO and secondary offering raised $20m for NYX Gaming Group and $25m for the selling shareholders, leading to total gross proceeds of $45m.
NYX Gaming Group is now listed on the Toronto Stock Exchange Venture Exchange under the symbol NYX.
The offering was underwritten by Canaccord Genuity, Cormark Securities, National Bank Financial, Dundee Securities, Global Maxfin Capital, and Mackie Research Capital.
The firm first announced plans for a public offering after confirming it had acquired the Ongame poker network from Amaya Gaming in November.
NYX paid eight times Ongame’s 2015 EBITDA, less any required working capital. Under the deal, Amaya also made a $10m “strategic investment” to expand on its current partnership with NYX subsidiary NextGen Gaming.
The firm has big plans for the US market and is set to enter the fray in New Jersey next month through its SNG Interactive joint venture with Sportech.
The JV will provide Resorts Casino in Atlantic City with a real-money online casino platform, with plans to expand the partnership across the US as more states legalize and regulate egaming.
The NYX share price had risen to $3.60 at the time of writing.