SharpLink Gaming Announces 2022 Extraordinary General Meeting of Shareholders to Approve Merger with SportsHub Games Network
SharpLink Gaming Ltd. (Nasdaq:SBET) is set to hold an extraordinary general meeting on December 14, 2022, to discuss and approve a merger with SportsHub Games Network, Inc. This all-stock transaction aims to consolidate resources and enhance user engagement in the sports betting industry. Shareholders of record by November 14, 2022, can vote, with a majority required for approval. Proxy statements will be sent on November 18. Shareholders may submit their positions by December 4. This merger is expected to fortify SharpLink's market presence.
- Merger with SportsHub could enhance market position in the sports betting industry.
- Expected synergies from combining SharpLink's technology with SportsHub's gaming platform.
- Potential increase in user engagement and revenue from expanded services.
- Approval of the merger requires a majority vote, which poses a risk if shareholders oppose.
- Integration challenges may arise post-merger affecting operational efficiency.
MINNEAPOLIS, MN / ACCESSWIRE / November 8, 2022 / SharpLink Gaming Ltd. (Nasdaq:SBET) ("SharpLink" or the "Company"), a pioneer of targeted, data-driven user engagement and conversion solutions for the U.S. sports betting and iGaming industries, today announced that it will hold an extraordinary general meeting of shareholders (the "Meeting") on Monday, December 14, 2022 at 4:00 PM Central Time at SharpLink's corporate office located at 333 Washington Avenue North, Suite 104, Minneapolis, Minnesota 55402, and thereafter as it may be adjourned or postponed from time to time. The primary purpose of the Meeting will be to approve the merger and related transactions (collectively, the "Transaction") with SportsHub Games Network, Inc. ("SportsHub"), an industry leading fantasy and sports game provider in an all-stock transaction.
The agenda of the Meeting is as follows:
| 1. | To approve the consummation of the Transaction contemplated by the Agreement and Plan of Merger, dated September 7, 2022, as amended by the First Amendment to the Agreement and Plan of Merger, dated November 2, 2022. |
| 2. | To transact any other business that may be properly brought before the Meeting or any continuation, adjournment or postponement thereof. |
Shareholders of record at the close of business on Monday, November 14, 2022 are entitled to notice of and to vote at the Meeting or any adjournments or postponements thereof. The Company plans to mail the proxy statement and a proxy card on or about Friday, November 18, 2022.
The approval of the proposal submitted to shareholders requires the affirmative vote of holders of at least a majority of the Company's Ordinary Shares represented at the Meeting, in person or by proxy, entitled to vote and voting on the matters presented for passage, as well as the support of the special majority as more fully described in the proxy statement.
Shareholders wishing to express their position on an agenda item may do so by submitting a written statement to the Company's offices at the above address no later than Sunday, December 4, 2022. Any position statement received will be furnished to the SEC on Form 6-K, which will be available to the public on the SEC's website at http://www.sec.gov. Eligible shareholders may present proper proposals for inclusion in the Meeting by submitting their proposals to the Company no later than Tuesday, November 15, 2022.
Shareholders may vote their Ordinary Shares by means of a proxy card, which is required to be received by the Company, along with the documentation set forth in the proxy statement, at least four (4) hours prior to the appointed time of the Meeting, to be counted for the Meeting. Shareholders may also vote online by going to www.proxyvote.com or, using a mobile device, scanning the QR barcode printed on the proxy card mailed to them. If voting online, your voting instructions must be electronically delivered at any time up until 11:59 PM Eastern Time on the day before the Meeting date. Shareholders may also vote telephonically by calling 1-800-690-6903 on any touch-tone phone to transmit their voting instructions up until 11:59 PM Eastern Time on the day before the Meeting date. If voting by phone, shareholders must have their proxy card in hand and then follow the instructions provided.
About SportsHub Games Network, Inc.
Founded in 2015 by a team of veteran fantasy sports industry pioneers, SportsHub owns and operates a variety of real-money fantasy sports and sports simulation games and mobile apps on its platform; and is licensed or authorized to operate in every state in the United States where fantasy sports play is legal and in which SportsHub has elected to operate based on the financial viability of operating there. The platform currently reaches more than two million fantasy sports fans who spend almost
About SharpLink Gaming Ltd.
Founded in 2019 and based in Minneapolis, Minnesota, SharpLink is a leading online technology company that connects sports fans, leagues and sports websites to relevant and timely sports betting and iGaming content. SharpLink uses proprietary, intelligent, online conversion technology to convert sports fans into sports bettors for licensed, online sportsbook operators. SharpLink's intelligent C4 Sports Betting Conversion technology delivers and determines the best sportsbook betting offers and experience for each identified user. Using sophisticated, behavioral modeling and tracking technologies, and by analyzing user's past and present behaviors, the Company serves sports fans with personalized betting offers specifically tied to each fan's favorite sports, teams and players. Additionally, SharpLink specializes in helping sports media companies develop strategies, products and innovative solutions to drive deep customer engagement with highly interactive sports games and mobile applications. SharpLink is run by industry veterans with several successful exits in the sports gaming and iGaming sectors. For more information, please visit the SharpLink website at www.sharplink.com.
Forward-Looking Statements
This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the expected growth in the online betting and iGaming industries, the Company's ability to grow its business, the potential benefits of the Company's products, services and technologies and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, government regulation of online betting, customer acceptance of new products and services, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries in which the Company operates on the Company's operations, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company and its competitors, general economic conditions and other risk factors detailed in the Company's annual report and other filings with the United States Securities and Exchange Commission. The Company does not undertake any responsibility to update the forward-looking statements in this release.
CONTACT INFORMATION:
SHARPLINK INVESTOR RELATIONS:
SharpLink Gaming Ltd.
Dodi Handy, Director of Communications
Phone: 407-960-4636
Email: ir@sharplink.com
SHARPLINK MEDIA RELATIONS:
Hot Paper Lantern
Michael Adorno, Vice President, Communications
Phone: 212-931-6143
Email: madorno@hotpaperlantern.com
SOURCE: SharpLink Gaming Ltd.
View source version on accesswire.com:
https://www.accesswire.com/724505/SharpLink-Gaming-Announces-2022-Extraordinary-General-Meeting-of-Shareholders-to-Approve-Merger-with-SportsHub-Games-Network
FAQ
What is the date of SharpLink's extraordinary general meeting?
What is the purpose of the extraordinary general meeting?
What is required for the merger approval?
When will the proxy statements be mailed to shareholders?
What is the significance of the merger for SharpLink (SBET)?
