M&A
confidence high
sentiment neutral
materiality 0.60
Bally's amends merger agreement to replace rolling shares with new Class A Common Stock
Bally's Corp
- Amendment No. 1 entered Aug 27, 2024, modifies Rolling Share Election: rolling shares to be exchanged for new Class A Common Stock, subject to stockholder approval of charter amendment.
- Class A Common Stock (par value $0.01) will have substantially identical rights to common stock but will be tradable on NYSE until merger closing or termination.
- If charter amendment not approved, rolling shares remain as Company Common Stock and Class A issuance does not occur.
- Board and Special Committee approved amendment; recommend stockholders vote for merger; no recommendation on making the rollover election.
- Record holders must submit Election Form by 5:00 PM ET on date of stockholder meeting; Class A shares to be issued within two business days after Election Deadline if approved.