NOTeoGames, which provides online gaming technologies and services to lottery operators, announced the terms of its IPO on Thursday.
The Tel Aviv, Israel-based company plans to raise $ 72 million by offering 4.8 million shares (45% insider) at a price range of $ 14 to $ 16. In the middle of the proposed range, NeoGames would have a fully diluted market value of $ 392 million.
Neo Games is a technology-driven company that believes itself to be an innovator in the lottery industry. As a global provider of B2G and B2B technologies and services for state lotteries and other lottery operators in Europe and North America, the company offers a full service solution with all the elements required to deliver lottery games. This includes technological platforms, a range of value-added services and a games studio with a large portfolio of games.
NeoGames was founded in 2005 and reported sales of $ 44 million for the 12 months ended September 30, 2020. It expects to be listed on Nasdaq under the symbol NGMS. Stifel, Macquarie Capital and Truist Securities are the associated bookkeepers in the transaction. Its price is expected during the week of November 16, 2020.
The NeoGames article, a lottery and online gaming provider, sets the conditions for a $ 72 million IPO.
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