Artemis Strategic Investment and Logflex MT Holding Limited (dba “Novibet”)jointly announced today a definitive agreement for a business combination.
Novibet is a profitable game-tech operator that offers iGaming and online sports betting.
Pro forma for the transaction, the implied enterprise valuation is approximately $696 million (assuming no redemptions). The deal includes the SPAC’s approximately $205 million of cash-in-trust (again, less any redemptions).
Artemis founders and existing Novibet stakeholders would hold approximately 75% of the combined company at closing. Novibet’s shareholders are expected to roll at least 92% of their equity into ordinary shares of the combined company. Read more.
