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Amaya increases money to purchase Chartwell

Amaya Gaming Group Incorporated, server and network-based gaming specialist in Canada revealed that it has increased its funds in order to purchase Chartwell, a software provider. The amount increased was reported to be $10.36 million after a bought deal private placement of 3.3 million common shares.

This agreement first started in mid-May after Amaya started negotiations to buy all common and issued shares in the Calgary-based Chartwell which is Chartwell Games International’s parent firm for roughly $23.63 million.

Montreal-based Amaya, said that a group of underwriters led by Canaccord Genuity Corporation and Laurentian Bank Securities Incorporated conducted its offering with its shares priced at $3.14 each. The agents got rewarded with a commission of $609,381 with the luxury to purchase 198,000 of its common shares which amounts to 6% of the Quebec firm’s total shareholding.

Amaya also revealed that this agreement contains an over-allotment option for the underwrites that give them the ability to buy 15% of the 3.3 million shares sold pursuant to the offering. Amaya ssaid that they could raise $11.94 million to use them to buy Chartwell.

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