Acies Acquisition Corp. Announces Special Meeting Date to Approve Proposed Business Combination with PLAYSTUDIOS, Inc.
Acies Acquisition Corp. (Nasdaq: ACAC) announced a Special Meeting for shareholders to approve its business combination with PLAYSTUDIOS, Inc. The meeting is set for June 17, 2021, pending shareholder approval. The SEC has declared effective Acies' Registration Statement, including a definitive proxy statement to be distributed to shareholders by May 14, 2021. Following the business combination, PLAYSTUDIOS' stock and warrants will trade under the new symbols 'MYPS' and 'MYPSW'. Acies reports PLAYSTUDIOS showed a 27% revenue growth in 2021.
- PLAYSTUDIOS reported a strong revenue growth of 27% in 2021 compared to the previous year.
- The business combination has been approved by the boards of both companies, indicating strong corporate alignment.
- The completion of SEC review indicates readiness for the business combination, potentially boosting investor confidence.
- Shareholder approval is still pending, which introduces uncertainty regarding the deal's completion.
- There are risks associated with not meeting the business combination deadline, which could adversely affect stock prices.
Acies Acquisition Corp. (Nasdaq: ACAC) (“Acies” or “Company”) announced today that it has scheduled an extraordinary general meeting of its shareholders (the “Special Meeting”) to approve the proposed business combination (the “Business Combination”) with PLAYSTUDIOS, Inc. (“PLAYSTUDIOS”). The Business Combination, if approved by Acies’ stockholders, is expected to close on or about June 17, 2021, or as soon as practicable following the Special Meeting.
The Company also announced that the U.S. Securities and Exchange Commission (the “SEC”) has declared effective its Registration Statement on Form S-4 (as amended, the “Registration Statement”), which includes a definitive proxy statement/prospectus (the “Proxy Statement”) for the Special Meeting. Acies will distribute the Proxy Statement and proxy card to its shareholders of record as of May 14, 2021, the record date for the Special Meeting (the “Record Date”). Following the closing, PLAYSTUDIOS Class A common stock and warrants are expected to trade on the Nasdaq under the new ticker symbols “MYPS” and “MYPSW”, respectively. The Business Combination, which was announced on February 1, 2021, has been approved by the boards of directors of both PLAYSTUDIOS and Acies and is subject to the approval by Acies’ shareholders and other customary conditions.
“With SEC review complete, we are excited to be moving toward closing our business combination with PLAYSTUDIOS,” said Jim Murren, Chairman of Acies. “As PLAYSTUDIOS reported on May 11, the Company is off to a strong start in 2021 and revenue growth of
A link to the definitive proxy statement is available under the “Investors” section of Acies’ website at https://aciesacq.com/sec-filings. The definitive proxy statement can also be viewed on the SEC's website at www.sec.gov, filed under Acies Acquisition Corp.
Due to the various travel and other restrictions in place in connection with the COVID-19 pandemic, the Special Meeting will be held virtually and Acies shareholders can attend the Special Meeting using the virtual meeting instructions set forth on their proxy cards. If any Acies shareholder has any questions, needs assistance in voting their shares or does not receive the Proxy Statement, that shareholder should contact their broker or contact Morrow Sodali LLC, Acies’ proxy solicitor, at (800) 662-5200 or at (203) 658-9400, or by email to ACAC.info@investor.morrowsodali.com.
About PLAYSTUDIOS Inc.
PLAYSTUDIOS is the developer and operator of award-winning free-to-play casual games for mobile and social platforms. The company’s collection of original and published titles is powered by its groundbreaking playAWARDS loyalty marketing platform, which enables players to earn real-world rewards from a portfolio of global entertainment, retail, technology, travel, leisure, and gaming brands across 17 countries and four continents. Founded by a team of veteran gaming, hospitality, and technology entrepreneurs, PLAYSTUDIOS brings together beautifully designed mobile gaming content with an innovative loyalty platform in order to provide its players with an unequaled entertainment experience and its partners with actionable business insights. To learn more about PLAYSTUDIOS, visit playstudios.com.
About Acies Acquisition Corp.
Acies Acquisition Corp. (Nasdaq: ACAC, ACACU, ACACW) is a newly organized blank check company, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company was established in October 2020 to focus on identifying a business combination target within the live, location-based and mobile experiential entertainment industries. To learn more about Acies, visit https://aciesacq.com
Important Information About the Business Combination and Where to Find It
In connection with the proposed Business Combination, the Company filed the Registration Statement with the SEC, which includes a proxy statement/prospectus that is both the proxy statement to be distributed to the Company’s stockholders in connection with the Company’s solicitation of proxies for the vote by the Company’s stockholders with respect to the Business Combination and other matters described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities of the Company to be issued in the Business Combination. The Registration Statement was declared effective by the SEC on May 25, 2021 and the definitive proxy statement/prospectus and other relevant documents have been mailed to the Company’s stockholders as of the Record Date. The Company’s stockholders and other interested persons are advised to read the definitive proxy statement/prospectus included in the Registration Statement, as these materials contain important information about the parties to the Business Combination. Stockholders may also obtain copies of the proxy statement/prospectus and other documents filed with the SEC, without charge, at the SEC’s web site at www.sec.gov, or by directing a request to: Acies Acquisition Corp., 1219 Morningside Drive, Suite 110, Manhattan Beach, CA 90266, Attention: Daniel Fetters and Edward King, Co-Chief Executive Officers, (310) 545-9265.
The deadline for Acies’ public stockholders to exercise their redemption rights in connection with the Business Combination is June 15, 2021 at 5:00 p.m. Eastern time. If you have any questions or need assistance voting your shares, please call our proxy solicitor, Morrow Sodali LLC, at (800) 662-5200 or at (203) 658-9400 or by email to ACAC.info@investor.morrowsodali.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s and Acies’ actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include the closing of the business combination transaction between the Company and Acies. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s and Acies’ control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Acies’ securities; (2) the risk that the transaction may not be completed by Acies’ business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Acies; (3) the failure to satisfy the conditions to the consummation of the transaction, including the approval of the merger agreement by the stockholders of Acies, the satisfaction of the minimum trust account amount following any redemptions by Acies’ public stockholders and the receipt of certain governmental and regulatory approvals; or (4) other risks and uncertainties included in Acies’ or the Company’s other filings with the U.S. Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exclusive, and readers should also refer to those risks included under the heading “Risk Factors” in the registration statement on Form S-4 (File No. 333-253135) containing the proxy statement/prospectus relating to the proposed business combination filed by Acies with the SEC, those included under the heading “Risk Factors” in the final prospectus of Acies related to its initial public offering and those included in other filings made by Acies or the Company with the SEC from time to time. Readers are cautioned not to place undue reliance upon any forward-looking statements in this press release, which speak only as of the date made. Acies and the Company do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Participants in the Solicitation
Acies and PLAYSTUDIOS and their respective directors and officers may be deemed participants in the solicitation of proxies of Acies’ stockholders in connection with the proposed business combination. Acies’ stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of Acies and of PLAYSTUDIOS in the Company’s definitive proxy statement / prospectus.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005297/en/
FAQ
What is the date of the Acies Acquisition Corp. Special Meeting?
What will be the new ticker symbols for PLAYSTUDIOS after the business combination?
What revenue growth did PLAYSTUDIOS report?
When will shareholders receive the definitive proxy statement?
What does the SEC approval signify for the business combination?
