Ankündigung • Feb 08
Better Collective A/S (OM:BETCO) completed the acquisition of Playmaker Capital Inc. (TSXV:PMKR) from a group of shareholders. Better Collective A/S (OM:BETCO) entered into a definitive agreement to acquire Playmaker Capital Inc. (TSXV:PMKR) from a group of shareholders for approximately CAD 170 million on November 6, 2023. Under the transaction, the holders of Playmaker Capital common shares will receive consideration of CAD 0.7 per share. The consideration comprises cash and shares of Better Collective. Playmaker Capital’s shareholders will be able to elect either CAD 0.70 in cash or 0.0206 shares of Better Collective per Playmaker Capital common share, subject to proration and an aggregate cap of 65% shares in Better Collective and 35% in cash. Playmaker Capital shareholders who do not elect cash or shares of Better Collective (subject to proration) will receive a default consideration of CAD 0.245 in cash (35%) and 0.0134 shares of Better Collective (65%) per Playmaker Capital common share. The cash consideration will be paid by existing cash on the balance sheet and already established bank credit facilities. Following the closing of the transaction, Playmaker Capital will be a wholly owned subsidiary of Better Collective. In case of temination under certain circumstances, either party will pay a termination fee of CAD 5 million to other party.The Transaction is to be effected by way of a court-approved plan of arrangement and is expected to close in the first quarter of 2024, subject to receipt of 66 2/3% of the votes cast by Playmaker shareholders and court approvals, a required regulatory approval and customary closing conditions. Completion of the Transaction is not subject to any financing condition. Playmaker’s board of directors has unanimously concluded that the Transaction is in the best interests of Playmaker and recommends that Playmaker shareholders vote in favor of the Transaction. Playmaker shareholders representing approximately 50% of Playmaker’s issued and outstanding common shares, including several of Playmaker’s largest shareholders and each of the Company’s directors and named executive officers, have entered into a voting support agreement pursuant to which each has committed to vote in favour of the Transaction. The transaction is subject to other customary closing conditions, including the approval of certain U.S. gaming authorities and approval under the Investment Canada Act. As of January 22, 2024, Playmaker Capital shareholders approved the transaction. The transaction is expected to close in early February. As of January 31, 2024, Playmaker Capital has received approval from the Minister of Canadian Heritage under the Investment Canada Act. Playmaker is also pleased to announce that the Ontario Superior Court (Commercial List) issued a final order approving the Arrangement on January 24, 2024. Following receipt of Heritage Approval and the Final Order, all conditions to closing of the Arrangement have been satisfied or waived, save for those conditions to be satisfied as part of the closing process. The Arrangement is expected to close on February 6, 2024.Canaccord Genuity Corp. acted as independent financial advisor to Playmaker’s board of directors and also delivered a fairness opinion to Playmaker’s board of directors. Oakvale Capital LLP is acting as financial advisor and Brandon Hoffman of Goodmans LLP is acting as legal advisor to Playmaker in connection with the Transaction. Moelis & Company LLC are acting as exclusive financial advisor, Mario Nigro and John Lee of Stikeman Elliott LLP, BechBruun Law Firm P/S and Greenberg Traurig LLP are acting as legal advisors and PriceWaterhouseCoopers acted as accounting and tax advisor to Better Collective in connection with the transaction. Odyssey Trust Company acted as depositary to Better Collective.Better Collective A/S (OM:BETCO) completed the acquisition of Playmaker Capital Inc. (TSXV:PMKR) from a group of shareholders on February 6, 2024. Ankündigung • Nov 30
Playmaker Capital Inc., Annual General Meeting, Jan 22, 2024 Playmaker Capital Inc., Annual General Meeting, Jan 22, 2024. Reported Earnings • Nov 24
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: US$0.011 loss per share (further deteriorated from US$0.01 loss in 3Q 2022). Revenue: US$11.5m (up 35% from 3Q 2022). Net loss: US$2.41m (loss widened 11% from 3Q 2022). Revenue exceeded analyst estimates by 6.9%. Earnings per share (EPS) missed analyst estimates by 100%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, while revenues in the Media industry in Canada are expected to remain flat. New Risk • Nov 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Ankündigung • Nov 08
Better Collective A/S (OM:BETCO) entered into a definitive agreement to acquire Playmaker Capital Inc. (TSXV:PMKR) from Jordan Gnat, Relay Ventures Parallel Fund III L.P. managed by Relay Ventures and others for approximately CAD 170 million. Better Collective A/S (OM:BETCO) entered into a definitive agreement to acquire Playmaker Capital Inc. (TSXV:PMKR) from Jordan Gnat, Relay Ventures Parallel Fund III L.P. managed by Relay Ventures and others for approximately CAD 170 million on November 6, 2023. Under the transaction, the holders of Playmaker Capital common shares will receive consideration of CAD 0.7 per share. The consideration comprises cash and shares of Better Collective. Playmaker Capital’s shareholders will be able to elect either CAD 0.70 in cash or 0.0206 shares of Better Collective per Playmaker Capital common share, subject to proration and an aggregate cap of 65% shares in Better Collective and 35% in cash. Playmaker Capital shareholders who do not elect cash or shares of Better Collective (subject to proration) will receive a default consideration of CAD 0.245 in cash (35%) and 0.0134 shares of Better Collective (65%) per Playmaker Capital common share. The cash consideration will be paid by existing cash on the balance sheet and already established bank credit facilities. Following the closing of the transaction, Playmaker Capital will be a wholly owned subsidiary of Better Collective.
The Transaction is to be effected by way of a court-approved plan of arrangement and is expected to close in the first quarter of 2024, subject to receipt of 66 2/3% of the votes cast by Playmaker shareholders and court approvals, a required regulatory approval and customary closing conditions. Completion of the Transaction is not subject to any financing condition. Playmaker’s board of directors has unanimously concluded that the Transaction is in the best interests of Playmaker and recommends that Playmaker shareholders vote in favor of the Transaction. Playmaker shareholders representing approximately 50% of Playmaker’s issued and outstanding common shares, including several of Playmaker’s largest shareholders and each of the Company’s directors and named executive officers, have entered into a voting support agreement pursuant to which each has committed to vote in favour of the Transaction. The Transaction is subject to other customary closing conditions, including the approval of certain U.S. gaming authorities and approval under the Investment Canada Act.
Canaccord Genuity Corp. acted as independent financial advisor to Playmaker’s board of directors and also delivered a fairness opinion to Playmaker’s board of directors. Oakvale Capital LLP is acting as financial advisor and Goodmans LLP is acting as legal advisor to Playmaker in connection with the Transaction. Moelis & Company LLC are acting as exclusive financial advisor, Stikeman Elliott LLP, BechBruun Law Firm P/S and Greenberg Traurig LLP are acting as legal advisors and PriceWaterhouseCoopers acted as accounting and tax advisor to Better Collective in connection with the transaction. Breakeven Date Change • Aug 17
Forecast breakeven date pushed back to 2024 The 6 analysts covering Playmaker Capital previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 92% to 2023. The company is expected to make a profit of US$7.34m in 2024. Average annual earnings growth of 192% is required to achieve expected profit on schedule. Reported Earnings • Aug 16
Second quarter 2023 earnings released: US$0.001 loss per share (vs US$0.005 loss in 2Q 2022) Second quarter 2023 results: US$0.001 loss per share (improved from US$0.005 loss in 2Q 2022). Revenue: US$12.6m (up 81% from 2Q 2022). Net loss: US$330.3k (loss narrowed 70% from 2Q 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 1.5% growth forecast for the Media industry in Canada. Ankündigung • Aug 10
Playmaker Capital Inc. (TSXV:PMKR) acquried La Poche Bleue. Playmaker Capital Inc. (TSXV:PMKR) entered into an agreement to acquire La Poche Bleue on August 8, 2023. The purchase price consideration consisted of (i) a closing cash payment of CAD 2.25 million, (ii) the issuance of 1,666,667 Playmaker common shares on closing, (iii) two separate earn-out payments of up to a maximum of CAD 5.0 million in the aggregate, payable to the sellers upon La Poche Bleue achieving certain EBITDA targets in each of the 12-month periods ending August 7, 2024 and August 7, 2025, and (iv) deferred cash payments of CAD 0.3 million, payable to the sellers over the first two years following closing. 70% of the earn-out consideration is payable in cash and 30% of the earn-out consideration is payable by the issuance of Playmaker common shares.
Playmaker Capital Inc. (TSXV:PMKR) completed the acquisition of La Poche Bleue on August 9, 2023. Recent Insider Transactions • May 27
CEO & Director recently bought CA$101k worth of stock On the 18th of May, Jordan Gnat bought around 200k shares on-market at roughly CA$0.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jordan has been a buyer over the last 12 months, purchasing a net total of CA$137k worth in shares. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Chairman of the Board Maryann Turcke is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Nov 02
Playmaker Capital Inc. to Report Q3, 2022 Results on Nov 14, 2022 Playmaker Capital Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 14, 2022 Ankündigung • Oct 19
Playmaker Capital Inc. (TSXV:PMKR) entered into agreement to acquire Wedge Traffic Limited for $31.2 million. Playmaker Capital Inc. (TSXV:PMKR) entered into agreement to acquire Wedge Traffic Limited for $31.2 million on October 17, 2022. The purchase price consideration consisted of a cash payment on closing of $8.5 million, the issuance on closing of 3,694,933 Playmaker common shares priced at CAD$0.75 per Playmaker Share, and contingent consideration of approximately $20.7 million. The contingent consideration consists of two separate earn-out payments in an aggregate amount of approximately $16.7 million (the “Earn-out Consideration”), payable to the sellers upon achieving certain revenue and EBITDA targets in each of the 12-month periods ending December 31, 2023 and December 31, 2024. The Earn-out Consideration is payable through a combination of cash and common shares of Playmaker, subject to the approval of the TSXV, and provided that the maximum number of Earn-out Shares issuable to satisfy the Earn-out Consideration is equal to an aggregate of 16,812,307 Earn-out Shares. Additionally, as part of the contingent consideration, the sellers are eligible for two separate deferred cash payments of $1.5 million and $1.0 million if certain EBITDA thresholds are achieved in each of 2023 and 2024, respectively, and two separate milestone payments of $750,000 each if certain revenue thresholds are achieved at any time following closing. Founders Dan Kersh and David Copeland will join Playmaker’s senior leadership team. In connection with closing of the Transaction, an arm’s length financial advisor of the vendors shall be entitled to 1.75% of the aggregate consideration payable to the vendors pursuant to the terms of a commission agreement between Wedge and the financial advisor. In the year ended December 31, 2021, Wedge generated revenue of US $2.9 million and EBITDA of $1.7 million.
Playmaker Capital Inc. (TSXV:PMKR) completed the acquisition of Wedge Traffic Limited on October 18, 2022. Ankündigung • Aug 05
Playmaker Capital Inc. to Report Q2, 2022 Results on Aug 15, 2022 Playmaker Capital Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 15, 2022 Ankündigung • Aug 04
Playmaker Capital Inc. (TSXV:PMKR) acquired Digital assets of JuanFutbol from Soccerly SAPI de C.V. for $2.8 million. Playmaker Capital Inc. (TSXV:PMKR) acquired Digital assets of JuanFutbol from Soccerly SAPI de C.V. for $2.8 million on July 26, 2022. The acquisition of JuanFutbol also includes baseball focused asset, JuanBeisbol, and women’s-focused sports property, FridaPop. The purchase price consideration consisted of (i) a closing cash payment of $0.4 million (ii) the issuance of 421,754 Playmaker common shares (the “Playmaker Shares”) on closing and (iii) a target earn-out of $1.4 million payable to the sellers upon JuanFutbol achieving certain revenue and performance targets, with a maximum earn-out of $2.1 million if revenue and performance targets are exceeded, in the period of July 1, 2022 to December 31, 2023.
Playmaker Capital Inc. (TSXV:PMKR) Completed the acquisition of Digital assets of JuanFutbol from Soccerly SAPI de C.V. for $2.8 million. Ankündigung • Jul 13
Playmaker Capital Inc. announced that it expects to receive $20 million in funding from Beedie Capital Playmaker Capital Inc. announced that it has entered into a credit agreement with new investor, Beedie Capital for a convertible loan facility of up to the gross proceeds of $20 million on July 12, 2022. Concurrently with entering into the credit agreement, the company received an initial advance of US$15 million in this first tranche, with the remaining $5 million available for subsequent advances in minimum tranches of $2.5 million over the term of the convertible facility. At any time during the term of the convertible facility, Beedie Capital may elect to convert the principal amount of the initial advance into common shares of the company at a conversion price of $0.70 per common share, subject to adjustment in accordance with the terms of the credit agreement which represents a 77% premium to the $0.395 trading price per common share on the TSX Venture Exchange on the close of business on July 11, 2022. The convertible facility bears interest at a fixed rate of 9% per annum on advanced funds and carries a standby fee equal to 1.25% per annum on the unadvanced portion of the convertible facility compounded monthly and payable in arrears. In addition, Playmaker has paid Beedie Capital a commitment fee equal to 1.5% of the total amount of the convertible Facility. Subject to the terms of the credit agreement, the convertible facility, including all subsequent advances, will have a term of four years from the date of the Initial advance and may be prepaid, subject to certain conditions including the payment of applicable prepayment fees. Draws of subsequent advances are subject to the approval of Beedie Capital for the acquisition to be financed by such Advance, as well as applicable regulatory and stock exchange approvals. Subject to the approval of the TSX Venture Exchange, the principal amount of any subsequent advance will be convertible into common shares at a deemed price per common share equal to the higher of either the market price of the common shares, less the maximum permitted discount under applicable stock exchange rules or a 20% premium above the 25 trading day volume-weighted average price of the common shares, in each case measured on the close of trading on the trading day immediately prior to the announcement of the acquisition to be the financed with such subsequent advance. Under the terms of the credit agreement, company is entitled to require Beedie Capital to convert up to 50% of the principal amount of the initial advance or any subsequent advance in the event that the 20 trading day volume-weighted average price of the common shares equals or exceeds a 50% premium to the initial conversion price or the subsequent conversion price, as applicable. While Beedie Capital has at least $10 million in capital invested in the company, Beedie Capital will be entitled to have an observer on the board of the Company. Should Beedie Capital own at least 10% of the issued and outstanding common shares, calculated on a non-diluted basis, it will have the option to require the company to nominate a representative to the board of the company for the period it continues to hold at least 10% of such securities. Common Shares issued on conversion of the convertible facility will be subject to a statutory resale restriction in accordance with applicable Canadian securities laws, expiring four months and one day from the date of the applicable advance, in addition to such other restrictions as may apply under the policies of the TSXV. The convertible facility will be secured by substantially all of the assets of the company and certain of its subsidiaries. Ankündigung • Jul 06
Playmaker Capital Inc. (TSXV:PMKR) acquired Digital Assets of World Soccer Talk for $1 million. Playmaker Capital Inc. (TSXV:PMKR) acquired Digital Assets of World Soccer Talk for $1 million on July 5, 2022. Pursuant to the terms of a purchase agreement dated July 5, 2022, Playmaker acquired 100% of the digital assets of World Soccer Talk for aggregate consideration of up to $1.15 million. The purchase price consideration consisted of (i) a closing cash payment of $350,000, (ii) the issuance of 510,000 Playmaker common shares on closing, priced at CAD 0.75 per Playmaker Share ($0.58273), and (iii) up to a total of $500,000 in the form of an earn-out, payable to the sellers upon World Soccer Talk achieving certain revenue and performance targets in the first and second years following closing.
Playmaker Capital Inc. (TSXV:PMKR) completed the acquisition of Digital Assets of World Soccer Talk on July 5, 2022. Ankündigung • Jun 03
Playmaker Capital Inc. Brand Yardbarker Launches Sports Betting Focused Email Newsletter `Bark Bets' Playmaker Capital Inc. announced that its wholly owned subsidiary, Yardbarker Media ("Yardbarker"), has launched Bark Bets, a new consumer facing, sports betting email newsletter product. Bark Bets provides users with deep analysis and actionable information on the biggest games and events in sports with the goal of better informing sports fans' betting decisions. Written by Yardbarker's in-house sports betting experts, Bark Bets is emailed to readers 5x per week Monday through Friday. Bark Bets features three sections that each serve to offer readers different insights related to that night's events to ensure that there is content to meet every sports bettor's preferred wager type, risk tolerance, and sports betting knowledge. The lead story features a breakdown that previews the top game of the day, and highlights important news related to the game that could impact the betting markets or provide timely betting opportunities to capitalize on. The Quick Picks section gives short and to-the-point analysis of the most promising betting options for additional games that day combined with best-in-class odds integrations. The Betting News and Notes section provides an aggregation of the most popular sports betting content on the Yardbarker website. Beyond the content, Bark Bets presents multiple opportunities to integrate contextual promotions and offers from leading sportsbooks trying to reach a targeted group of sports betting users. The highly personal and engaging format of the newsletter combined with daily frequency provides the ability to deliver unique and targeted offers related to each night's slate of games and betting markets. Bark Bets will join the Morning Bark and Quiz of the Day in Yardbarker's newsletter portfolio, which has become a centre of excellence for Playmaker. All three newsletters serve as significant referral sources for Yardbarker's website and generate valuable first-party data. Recent Insider Transactions • May 08
Executive Vice President recently bought CA$328k worth of stock On the 2nd of May, Federico Grinberg bought around 573k shares on-market at roughly CA$0.57 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$1.4m more in shares than they have sold in the last 12 months. Ankündigung • May 05
Playmaker Capital Inc. (TSXV:PMKR) acquired The Sports Drop. Playmaker Capital Inc. (TSXV:PMKR) acquired The Sports Drop on April 8, 2022. Under the transaction, The Sports Drop Founder, Mike Bellom, has joined Playmaker’s senior leadership team as Head of Paid Media.
Playmaker Capital Inc. (TSXV:PMKR) completed the acquisition of The Sports Drop on April 8, 2022. Ankündigung • May 04
Playmaker Capital Inc. to Report Q1, 2022 Results on May 16, 2022 Playmaker Capital Inc. announced that they will report Q1, 2022 results After-Market on May 16, 2022 Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Chairman of the Board Maryann Turcke is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Apr 14
Playmaker Capital Inc. Appoints Sara Slane and Mark Harrison to its Board of Directors Playmaker Capital Inc. announced that it has appointed Sara Slane, Founder of Slane Advisory and former Senior Vice President of the American Gaming Association, and Mark Harrison, Founder of The T1 Agency and SponsorshipX, to its board of directors. Ms. Slane is the founder of Slane Advisory, a consultancy focused on advising stakeholders from the gaming, media, and sports industries. Previously, Ms. Slane served as Senior Vice President of Public Affairs at the American Gaming Association. Mr. Harrison has been a leading figure in the sponsorship and marketing industry in Canada for over 30 years. The appointments of Ms. Slane and Mr. Harrison to Playmaker’s Board will strengthen and complement the Board’s areas of expertise. Ankündigung • Apr 07
Playmaker Capital Inc. Appoints Adam Seaborn as Head of Partnerships for North America Playmaker Capital Inc. announced that it has hired Adam Seaborn as its new Head of Partnerships for North America. Mr. Seaborn will lead Playmaker's current and prospective partnerships with corporate advertisers and agencies across North America, and his efforts will create expanded opportunities for direct campaign deals with leading brands across the region. Mr. Seaborn brings to this role a deep understanding of the North American sports media industry. Most recently, Mr. Seaborn served as Director, Sales and Media Operations at Kingstar Media. Recent Insider Transactions • Apr 03
CEO & Director recently bought CA$194k worth of stock On the 31st of March, Jordan Gnat bought around 308k shares on-market at roughly CA$0.63 per share. This was the largest purchase by an insider in the last 3 months. Jordan has been a buyer over the last 12 months, purchasing a net total of CA$483k worth in shares. Ankündigung • Feb 26
Playmaker Capital Inc., Annual General Meeting, May 05, 2022 Playmaker Capital Inc., Annual General Meeting, May 05, 2022. Ankündigung • Jan 12
Playmaker Capital Inc. (TSXV:PMKR) acquired Cracks for $1.7 million. Playmaker Capital Inc. (TSXV:PMKR) acquired Cracks for $1.7 million on January 11, 2022. The purchase price consideration consisted of (i) a cash payment of US$0.4 million on closing and (ii) cash payments of up to a maximum of US$1.3 million payable to the seller upon Cracks achieving certain milestones and performance related targets over the 12-months following closing.
Playmaker Capital Inc. (TSXV:PMKR) completed the acquisition of Cracks on January 11, 2022. Recent Insider Transactions • Nov 26
CEO & Director recently bought CA$92k worth of stock On the 23rd of November, Jordan Gnat bought around 110k shares on-market at roughly CA$0.84 per share. In the last 3 months, they made an even bigger purchase worth CA$102k. Jordan has been a buyer over the last 12 months, purchasing a net total of CA$194k worth in shares. Recent Insider Transactions • Sep 09
CEO & Director recently bought CA$102k worth of stock On the 3rd of September, Jordan Gnat bought around 150k shares on-market at roughly CA$0.68 per share. This was the largest purchase by an insider in the last 3 months. This was Jordan's only on-market trade for the last 12 months. Ankündigung • Sep 03
Playmaker Capital Inc. (TSXV:PMKR) acquired Two-Up Agency Ltd for $5.8 million. Playmaker Capital Inc. (TSXV:PMKR) acquired Two-Up Agency Ltd for $5.8 million on September 1, 2021. The consideration includes $0.75 million in cash, $2.5 million in shares of Playmaker and an earnout of $2.5 million in the form of shares. Post completion, Two-Up’s core technology products will be integrated into Playmaker’s newly announced proprietary technology stack, Playmaker Bench. Robbie Morris of Two-Up joins the Playmaker leadership team and will add a team of 24 experienced sales and technology experts spread across two primary offices in London, UK and Krakow, Poland.
Playmaker Capital Inc. (TSXV:PMKR) completed the acquisition of Two-Up Agency Ltd on September 1, 2021.