The first New York Stock Exchange-listed (NYSE) special purpose acquisition company (SPAC) transaction to involve a Guernsey company has taken place.
Genius Sports Limited has been publicly listed on the NYSE following its successful business combination with dMY Technology Group, Inc. II, an NYSE-listed SPAC.
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 its 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 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'.
Carey Olsen's corporate team in Guernsey advised Genius Sports on the Guernsey legal and regulatory aspects of its listing.
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."
For more information about Guernsey's finance industry please visit www.weareguernsey.com.
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