DD3 Acquisition II Files Analyst Presentation on Codere Deal

DD3 Acquisition

DD3 Acquisition II today filed an analyst presentation with the SEC, highlighting its proposed merger with Codere Online, which offers online sports betting and online casino through its websites and mobile applications. The combined company would have an implied equity market capitalization of approximately $500 million. 

Announced in June, terms call for Codere investors to receive DD3’s $125 million cash in trust and a PIPE commitment 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. Read more.

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