PLAYSTUDIOS, Inc. has completed the acquisition of substantially all assets of Pixode Games Limited on July 1, 2024. The purchase included a $3.5 million payment at closing, with an additional $1.0 million possible on launch of the acquired game, plus further contingent consideration based on performance, estimated at a fair value of approximately $2.7 million. Some of the payment may be in PLAYSTUDIOS Class A common stock, at the company's discretion. Furthermore, an amendment to the company's credit agreement was made to exclude the obligations of this deal from certain covenants.
Names: - PLAYSTUDIOS, Inc. - PLAYSTUDIOS US, LLC - PLAYSTUDIOS International Israel Ltd. - Pixode Games Limited - JPMorgan Chase Bank, N.A. - Scott Peterson (Chief Financial Officer at PLAYSTUDIOS, Inc.)