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An announcement from Accel Entertainment (ACEL) is now available.
Accel Entertainment, Inc. is set to acquire Fairmount, the entity behind FanDuel Sportsbook & Horse Racing, through a merger valued at approximately $35 million in stock, subject to customary adjustments. The agreement, unanimously approved by both companies’ boards, includes standard representations and warranties and must clear customary closing conditions, including regulatory nods. Anticipated to finalize by end of 2024, the deal is strategically important for stakeholders in the gaming and entertainment sectors, with no termination fee clause outlined, although certain rights to terminate exist. This stock issuance for the merger will be exempt from registration under the Securities Act, leveraging Section 4(a)(2) and/or Regulation D.
For detailed information about ACEL stock, go to TipRanks’ Stock Analysis page.
