Codere Online Luxembourg filed a registration statement on Form F-4 that includes a preliminary proxy and prospectus on its proposed business combination with DD3 Acquisition II.
The combined company has an estimated pro forma enterprise value of approximately $350 million.
Announced in June, terms call for Codere investors to receive DD3’s $125 million cash in trust and a PIPE of more than $67 million, provided by Baron Funds, MG Capital, LarrainVial and the SPAC’s sponsor DD3 Capital Partners. The PIPE, together with a further commitment by Baron Funds to roll-over approximately $10 million of DD3 public shares, fulfills the minimum $77 million in cash required to close the business combination, the companies said.
Codere Online launched in 2014 as a part of the international gaming operator Codere Group, offering online sports betting and online casino through its websites and mobile applications.
This is DD3 Capital Partner’s second SPAC. DD3’s first SPAC merged with Betterware de Mexico in March 2020.
The deal is expected to be completed in the fourth quarter. Read more.
