Carey Olsen advises Genius Sports on New York Stock Exchange listing
Carey Olsen's corporate team in Guernsey has advised Genius Sports Limited on its public listing on the New York Stock Exchange (NYSE) following its successful business combination with dMY Technology Group, Inc. II (NYSE:DMYD), an NYSE-listed special purpose acquisition company (SPAC).
The transaction implies a pro forma enterprise value for Genius Sports, pre-merger of approximately US$1.5 billion. It will trade on the NYSE under the symbols 'GENI' and GENI WS'.
The deal also represents the first NYSE-listed SPAC transaction to involve a Guernsey company.
Genius Sports Group is a global leader in digital sports content, technology and integrity services, acquiring data from sports events around the world and supplying it to sports betting operators and other organisations in order to provide them with secure, high-quality, mission critical data. It most recently agreed a new multi-year strategic partnership with the National Football League (NFL) to become the NFL's exclusive distributor of real-time official play-by-play statistics, proprietary Next Gen Stats data, and its official sports betting data feed to media companies and sports betting operators globally.
The Carey Olsen team advising Genius Sports on the Guernsey legal and regulatory aspects of its NYSE listing comprised Christopher Anderson, Rachel de la Haye, John Scanlan, Alexandra Hehir and Nickie Pickernell.
Partner Christopher Anderson said: "Carey Olsen is delighted to have supported Genius Sports on this significant milestone in its growth and development as a company following the completion of its merger with dMY Technology Group II. As a firm, Carey Olsen is already recognised as a pre-eminent adviser to main market listed clients and this demonstrates our go-to position as a leading specialist for offshore listings work in New York and elsewhere."
