Better Collective Finalizes Playmaker Capital Acquisition

In a strategic move to bolster its presence within the digital sports media landscape, Better Collective has successfully completed the acquisition of Playmaker Capital, a Toronto-based leader in digital sports media operating across the Americas. This acquisition marks a significant milestone for Better Collective, solidifying its position as a key player in the igaming industry by expanding its portfolio of sports media brands.

Following this acquisition, Better Collective’s board of directors has decided to issue 1,755,429 new ordinary shares, each with a nominal value of EUR 0.01, effectively increasing the company’s share capital by nominally EUR 17,554.29. These shares have been issued in exchange for common shares of Playmaker Capital, integrating Playmaker Capital as a wholly-owned subsidiary within the Better Collective group. This development prompts Better Collective to revise its long-term financial targets for 2027, reflecting the anticipated growth and synergies from this integration.

The acquisition was structured as a plan of arrangement under the Business Corporations Act (Ontario), with Better Collective acquiring all issued and outstanding shares of Playmaker Capital. The transaction was valued at 0.70 CAD per Playmaker Capital share, offering a mix of cash and Better Collective shares as consideration to Playmaker Capital’s shareholders. The terms provided shareholders with several options for their consideration, including a fully cash option, a share exchange option, or a combination of both, with a set proportion cap of 65% in Better Collective shares and 35% in cash.

Significant shareholders of Playmaker Capital, including Relay Ventures and Jordan Gnat along with his affiliates—who collectively held 24% of Playmaker Capital prior to the transaction—have participated in the transaction. Jordan Gnat and his affiliates chose to roll a portion of their shares into Better Collective shares, receiving a specific combination of cash and Better Collective shares as consideration.

With the completion of this acquisition, plans are in place to delist Playmaker Capital’s common shares from the TSX Venture Exchange. Playmaker Capital will also take steps to cease being a reporting issuer under Canadian securities laws. The share consideration for Playmaker Capital shareholders involves a combination of existing Better Collective treasury shares and newly issued shares, totaling 3,143,009 Better Collective shares.

This acquisition signifies a pivotal expansion for Better Collective, enabling it to leverage Playmaker Capital’s extensive portfolio and market presence to enhance its offerings within the igaming sector. Playmaker Capital will be consolidated into Better Collective’s financial statements starting from February 6th, 2024, marking the beginning of a new chapter of growth and innovation for both entities within the digital sports media and igaming industries.

Jesper Søgaard, Co-founder & CEO of Better Collective, says: “I am truly excited for the completion of the acquisition of Playmaker Capital which marks a significant step towards our vision of becoming the leading digital sports media group. Over the last few months, we have had great discussions with the management team of Playmaker and these have reinforced my confidence in the combined future of our organizations. I look forward to welcoming the entire Playmaker team and its leading sports media brands to the Better Collective group and to realize the many synergies that lie ahead for our business.”

Jordan Gnat, Co-founder & CEO of Playmaker Capital, says: “Today the Playmaker family begins the next phase of our journey by joining the Better Collective family. As the teams have gotten to know each other over the past few months I have been inspired by the cultural fit and the excitement for this opportunity going forward by both teams. A special thank you to Jesper, Christian and the Better Collective team for the confidence you have shown in our team. We are as excited as ever to continue this journey with all of you. I would also like to thank all the Playmaker shareholders for their support of Playmaker and look forward to their continued support of Better Collective as together we become the leading digital sports media group.”