SEAH - SPAC Sports Entertainment Acquisition to take Betway's Super Group pubic at ~$5.1B valuation

April, 26 2021 06:27 AM Sports Entertainment Acquisition Corp. Class A

Sports Entertainment Acquisition (SEAH) +12.68% premarket on taking Super Group public at $5.1B valuation.Super Group is the holding company for leading global online sports betting and gaming businesses: BetwaySports.Upon closing of the transaction, the combined company will operate under the name Super Group on NYSE under the ticker symbol 'SGHC'. Transaction will provide ~$450M of cash (currently held in trust) to the combined company.Super Group’s existing shareholders will hold ~88% of the shares in the combined company and the group will have ~$200M in cash on its balance sheet on closing. Shareholders comprising more than 70% of Super Group’s equity will not be selling any shares and will roll their entire equity positions into the public company. The transaction is expected to close in the second half of 2021.Super Group is predicting EBITDA of $350M in 2021 and $420M in 2022.Neal Menashe, CEO of Super Group, said: “This listing will position us strongly to

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SPAC Sports Entertainment Acquisition to take Betway's Super Group pubic at ~$5.1B valuation

Company Name:	Sports Entertainment Acquisition Corp. Class A
Stock Symbol:	SEAH
Market:	NYSE

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