M&A
confidence high
sentiment neutral
materiality 0.70
Galaxy Gaming supplements merger proxy with offer history and revised projections
Galaxy Gaming, Inc.
- Six stockholder demands and two lawsuits in NY state court alleging proxy omissions; Company supplements but denies merit.
- Evolution's offers: $2.19 (38% premium), $2.62 (100%), $3.20 (100%) per share; no post-merger exec retention negotiations.
- Revised projections: Adj. EBITDA excludes interest income; 2024-2029 revenue, margins (41%-53%), and UFCF disclosed.
- Macquarie DCF: 15.3%-17.3% discount rate; terminal multiples 4.9x-6.4x EBITDA. Precedent transactions median 6.2x EBITDA.
- Special meeting Nov 12, 2024 for stockholder vote on Merger adoption.