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PLAYSTUDIOS, Inc. Announces Extension of the Expiration Date for the Offer to Purchase and Consent Solicitation Relating to Its Warrants
LAS VEGAS--(BUSINESS WIRE)-- PLAYSTUDIOS, Inc. (NASDAQ: MYPS) (“PLAYSTUDIOS” or the “Company”), the creator of the playAWARDS loyalty platform and an
About this update from Playstudios, Inc.
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nPLAYSTUDIOS, Inc. (NASDAQ: MYPS) (“PLAYSTUDIOS” or the “Company”), the creator of the playAWARDS loyalty platform and an award-winning developer of free-to-play mobile and social games, today announced that it has extended the expiration date of its previously commenced offer to purchase (the “Offer”) all of its outstanding public warrants and private placement warrants (collectively, the “Warrants”) to purchase shares of its Class A common stock, par value $0.0001 per share, at a purchase price of $1.00 in cash, without interest, to 12:00 midnight, Eastern Time at the end of the day on May 13, 2022, unless further extended or terminated. The Offer was previously scheduled to expire at 12:00 midnight, Eastern Time, at the end of the day on April 29, 2022. The Offer was extended to allow additional time for holders of Warrants to tender their Warrants in the Offer. The Offer may be extended further in accordance with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).\n\nPLAYSTUDIOS is also soliciting consents (the “Consent Solicitation”) to amend the Warrant Agreement, dated as of October 22, 2020, by and between PLAYSTUDIOS and Continental Stock Transfer & Trust Company, which governs all of the Warrants (the “Warrant Agreement”), to permit PLAYSTUDIOS to redeem each outstanding Warrant for $0.90 in cash, without interest, which is 10% less than the price applicable to the Offer (such amendment, the “Warrant Amendment”). Pursuant to the terms of the Warrant Agreement, the adoption of the Warrant Amendment will require the consent of holders of at least 65% of the outstanding public warrants as it relates to the public warrants and the consent of holders of at least 65% of the outstanding private placement warrants as it relates to the private placement warrants.\n\nBroadridge Corporate Issuer Solutions, Inc. (“Broadridge”), the depositary for the Offer, has advised the Company that, as of 5:00 p.m. Eastern Time on April 27, 2022, (i) an aggregate of 33,606 of the outstanding public warrants have been properly tendered and not properly withdrawn and (ii) no private placement warrants have been properly tendered. Holders of public warrants who have already tendered their public warrants do not need to re-tender their public warrants or take any other action a...