Genius Sports Limited - GENI STOCK NEWS

Genius Sports (NYSE:GENI) has received a temporary sports wagering vendor certification from the Massachusetts Gaming Commission, allowing it to support sportsbook partners across the state. This temporary license, valid for 12 months, marks the company's entry into the Massachusetts sports betting market, which began operations in January 2023. With this addition, Genius Sports holds 41 licenses across North America. CEO Mark Locke expressed enthusiasm for collaborating with Massachusetts as more states legalize sports betting, leveraging their NFL wagering products and media solutions.

Genius Sports Limited (NYSE:GENI) has successfully completed its warrant exercise and consent solicitation, eliminating all public warrants. Approximately 89.13% of outstanding warrants (6,834,991) were exercised. Holders who exercised their warrants will receive ordinary shares, enhancing capital structure clarity and financial flexibility. An amendment to the warrant agreement allows automatic exercise of unexercised warrants at a price of $3.2933, giving 0.234 shares per warrant. Post-exercise, approximately 210,180,893 ordinary shares will be outstanding, marking a 1.72% increase. This move is expected to support the company's operations moving forward.

Genius Sports has partnered with TSN to provide real-time data-driven broadcast overlays for the upcoming NFL Playoffs and Super Bowl LVII on the new TSN+ streaming platform. This innovative collaboration will enhance viewer experience by integrating play-by-play data and graphics to display player statistics, route trails, and radar maps during live broadcasts. The partnership marks a significant advancement in sports broadcasting technology, showcasing Genius Sports' capabilities as the official data partner for the NFL. TSN+ is currently available for a limited-time free preview, providing fans with broader access to live sports content.

Genius Sports Limited (NYSE:GENI) announced a reduction in the exercise price of its outstanding warrants from $11.50 to $3.1816 as part of a consent solicitation. This was communicated to warrant holders on December 20, 2022. Additionally, if warrant holders do not exercise their warrants by the expiration date, they will automatically exercise at an Automatic Exercise Price of $3.2933, yielding 0.234 ordinary shares per warrant. The warrants are set to expire on April 20, 2026. The company is working with BofA Securities for solicitation and has filed necessary documents with the U.S. SEC.

Genius Sports (NYSE:GENI) and SoftConstruct have reached a settlement regarding their legal dispute. SoftConstruct will purchase a multi-year license to access Genius’s data through its BetConstruct and FeedConstruct channels, affirming Genius's ownership of database rights. Jack Davison, Chief Commercial Officer at Genius Sports, expressed satisfaction with the settlement, highlighting the value of their technology and databases. SoftConstruct’s CEO, Armand Pinarbasi, noted the deal will enhance their customer service.

Genius Sports Limited (NYSE: GENI) has filed an amended Registration Statement on Form F-4 regarding its Consent Solicitation to amend the terms related to warrant exercises. The expiration date for the solicitation has been extended to January 19, 2023. If approved, holders can exercise warrants on a cashless basis for 0.26 shares or at a reduced price, ensuring no warrants remain outstanding post-January 20, 2023. With 7,668,280 warrants currently outstanding, the amendment aims to simplify capital structure and enhance financial flexibility for the Company and its investors.

Genius Sports has received a Sports Gaming Supplier License from the Ohio Casino Control Commission, allowing the company to support sportsbooks statewide. This approval expands Genius Sports' licensing to 39 across North America, enhancing its ability to provide clients with its NFL products and marketing services. CEO Mark Locke expressed enthusiasm for working with Ohio as sports betting becomes legal starting January 1, 2023. The company's technology and services empower sports organizations globally, strengthening its position in the fast-growing sports betting market.

Genius Sports Limited (NYSE: GENI) has extended its Consent Solicitation for outstanding warrants to January 19, 2023. This extension allows warrant holders to exercise their warrants at a reduced price of 74% of the reference price, or receive 0.260 Ordinary Shares for each warrant exercised. Unexercised warrants will automatically convert at 76.6% of the reference price. The solicitation aims to simplify the capital structure and mitigate potential dilution. BofA Securities is the solicitation agent.

Genius Sports and the NFL have expanded their partnership to provide U.S. sportsbooks with live video streams of select NFL games. Caesars Sportsbook is the first to offer this unique 'Watch & Bet' feature on mobile devices, enhancing the in-game betting experience for its users. This partnership allows for data-driven betting opportunities alongside live streaming, utilizing Genius Sports' technology for engaging fan experiences. The initiative aims to boost market share in North America, leveraging the NFL's popularity and official data integration.