Genius Sports to list on NYSE as $1.5bn dMY II merger closes

Sports data technology company Genius Sports Group (GSG) has announced the completion of its anticipated business combination with special acquisition company (SPAC) dMY Technology Group Inc. II (dMY II) that will see GSG trade on the New York Stock Exchange (NYSE).

The merger was approved at a meeting of dMY II’s stockholders on April 16. Once the business combination is completed, the combined business will become Genius Sports Limited.

From April 21, Genius will begin trading on the NYSE under the ticker symbols GENI and its warrants as GENI WS. The business will go public with a valuation of $1.50bn (£1.08bn/€1.26bn).

“As Genius Sports enters an exciting new chapter in its history, we are uniquely positioned at the heart of the world’s sports, betting and media ecosystem,” said Mark Locke, chief executive officer and co-founder of Genius Sports.

“Our merger with dMY II and listing on the NYSE are a testament to the enormous opportunity ahead of us as we leverage our unique scale, drive innovation and deliver products that help our partners create new and immersive experiences for sports fans around the world.”

Genius cited its partnerships with over 400 sports organizations, including its recently agreed deal with the NFL, as an example of its successful long-term technology platform.

A new board of directors will take over for the combined company, which will include Genius chairman David Levy and dMY II CEO Niccolo de Masi.

The details of the merger were first announced in October.

In January it was revealed that GSG would form a new holding company, Galileo NewCo, as part of of the dMY II merger. GSG also announced that DMY II would become a subsidiary of Galileo.

Earlier this month, GSG discontinued its Genius Sports Media and BetGenius brands while moving its remaining solutions under the Genius Sports umbrella ahead of the dMY II merger.

Original Article