PLAYSTUDIOS and Acies Acquisition announced today that they have entered into a definitive merger agreement. Upon the closing of the transaction, the combined company will be named PLAYSTUDIOS and remain listed on Nasdaq under new symbol MYPS.
Consideration to PLAYSTUDIOS will consist of at least 89.1 million shares of Acies common stock and up to $150 million in cash. In addition, funds and accounts managed by BlackRock, ClearBridge Investments, Neuberger Berman Funds, and MGM Resorts International are leading participants in a $250 million PIPE, at a price of $10 per share of Aices common stock.
The transaction implies an enterprise valuation for PLAYSTUDIOS of $1.1 billion, or 2.5x projected 2022 revenue of $435 million or 12.3x projected 2022 pro forma Adjusted EBITDA of $90 million.
PLAYSTUDIOS is an award-winning developer of free-to-play casual games for mobile and social platforms that offer real-world rewards to players. Read more.
