Sports Entertainment Acquisition announced that its shareholders voted today in favor of the business combination with SGHC Limited ( dba Super Group).
Super Group waived the minimum cash condition, according to a news release, and the SPAC expects all closing conditions to be met. The transaction is expected to generate approximately $202.4 million from Sports Entertainment’s trust proceeds, reflecting 45% of the publicly held shares that were not redeemed. As announced in April 20121, the deal was expected to yield $450 million for Super Group, which operates global online sports betting and gaming.
The closing is expected tomorrow. Super Group ordinary shares and warrants are expected to beging trading Friday on the New York Stock Exchange under the symbols SGHC and SGHC WS. Read more.
