AcquisitionsJul 23, 2026, 04:27 PM
Bragg Gaming Closes Drayton Acquisition, Appoints New Chairman
AI Summary
Bragg Gaming Group Inc. announced the completion of its acquisition of Drayton International for US$9 million, paid entirely through the issuance of 4,500,000 common shares. This acquisition is set to expand Bragg's presence in regulated U.S. sports betting and horse racing markets. Concurrently, 751,445 subscription receipts from a private placement were converted into common shares and warrants, and the company's senior credit facility was renewed. Additionally, Matt Davey was appointed Non-Executive Chairman of the board, while Matevz Mazij resigned from the board but continues as CEO.
Key Highlights
- Acquired Drayton International for US$9,000,000.
- Consideration paid with 4,500,000 Bragg common shares.
- Drayton acquisition expands U.S. sports betting and horse racing presence.
- 751,445 subscription receipts converted to common shares and warrants.
- Warrants exercisable at US$2.16 per share for 36 months.
- Senior credit facility with BMO renewed for one year.
- Matt Davey appointed Non-Executive Chairman of the board.
- Matt Davey holds ~10.09% of common shares via Tekkorp Capital.
- Matevz Mazij resigned from the board, remains CEO.
Price Impact
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