Codere SA’s board has filed a “preliminary registration statement” with the US Securities and Exchange Commission (SEC), presenting its prospectus to list its “Codere Online” businesses on the US Nasdaq.<\/p>\n\n\n\n
The record sees the company advance its plans to launch its Codere Online unit through a merger with DD3 Acquisition Corp – a SPAC led by former Goldman Sachs Latin America executive Martin Werner.<\/p>\n\n\n\n
DD3 was formally listed on the US Nasdaq earlier in the trading year, raising $77 million in capital to fund its merger with Codere Online. The deal will also be supported by a “$125 million equity fund” guaranteed by the private investors of MG Capital, Baron Fund and LarrainVial Chile.<\/p>\n\n\n\n
With that, the ‘Dealmakers’ anticipate the merger of Codere Online and DD3 to be finalized in the fourth quarter of trading – establishing a new Nasdaq betting group valued at US$350 million (\u20ac290 million).<\/p>\n\n\n\n
The SEC prospectus highlighted Codere Online’s established presence in the markets of Spain, Italy, Mexico, Colombia and Panama.<\/p>\n\n\n\n
The company’s South American profile should be further enhanced, as Codere Online has secured top-tier positions to launch itself in the soon-to-be-regulated markets of Brazil and Buenos Aires, Argentina.<\/p>\n\n\n\n
Although Codere Online functions as an independent company from the Group – the new company will be supported by gaming venues in South America, helping its growth strategy in the markets of Spain, Colombia, Mexico, Panama and Uruguay.<\/p>\n\n\n\n
The sale of Codere Online has already been approved – which maintain a group-wide liability outstanding of $700 million.<\/p>\n\n\n\n
The company is an internationally renowned gaming operator, operating in European markets such as Italy and Spain.<\/p>\n\n\n\n