Kirkland advised Genius Sports Group Limited (“GSG”), the leading provider of sports data and technology powering the sports, betting and media ecosystem, on its business combination agreement with dMY Technology Group, Inc. II (NYSE: DMYD) (“dMY II”), a publicly traded special purpose acquisition company. As a result of the business combination, GSG and dMY II shareholders will exchange their shares for shares in a new combined company (“NewCo”) which will be publicly listed on the New York Stock Exchange. The transaction implies an enterprise value of approximately $1.5 billion. In addition, a group of institutional and experienced industry investors has committed to participate in the transaction through a common stock PIPE of approximately $330 million.
The matter involved a cross-border Kirkland team with the U.S. team led by partners Edward Lee, Abhishek Kolay and Srinivas Kaushik, and supported by partner Richard Campbell, and the U.K. team led by partners Rory Mullarkey and Aprajita Dhundia. The team also included capital markets partners Joshua Korff, Ross Leff and Marsha Mogilevich, and tax partners Jared Rusman and Ryan Roberts.