07 February 2022
Carey Olsen advises Super Group on NYSE listing as it merges with Sports Entertainment Acquisition Corp.
Carey Olsen's corporate team in Guernsey has advised Super Group (SGHC) Limited (the "Company") and its subsidiaries on the Company's public listing on the New York Stock Exchange (NYSE) following the successful completion of its US$4.75 billion business combination with Sports Entertainment Acquisition Corp., an NYSE-listed special purpose acquisition company (SPAC).
Following the business combination, the newly combined company will operate under the Company, with the shares trading on the NYSE under the symbol 'SGHC' and its warrants trading under the symbol 'SGHC WS'.
The combination gives Super Group, the holding company for some of the world's leading online sports betting and gaming businesses, access to the capital markets and a strong platform to accelerate its global growth strategy, particularly around the expansion into the fast-growing US sports betting market.
Working alongside onshore counsel Cooley LLP, the Carey Olsen team advising Super Group on the Guernsey legal and regulatory aspects of the merger and its subsequent NYSE listing comprised partner Ben Morgan, senior associate Rachel de la Haye and paralegal Kim Courtney.
Ben said: "This is a hugely significant merger and one that, with the listing on the New York Stock Exchange, positions Super Group perfectly to capitalise on the significant global growth opportunities ahead, particularly in the US. We were delighted to assist the group on such an important deal and to be able once again to demonstrate our experience and expertise in relation to international capital market transactions."