With the iconic bell ringing in the Nasdaq Tower in Times Square, Codere Online celebrated its debut on the North American stock market yesterday, Wednesday 1 December, in a virtual event broadcast internationally and live. The general manager of Codere Online, Moshe Edree, was tasked with ringing the virtual bell at the opening of the market at Nasdaq Tower, New York, accompanied by company employees and collaborators, thus marking the start of stock trading remotely. With this, the common shares and warrants of Codere Online Luxembourg SA began to be sold with the tickers “Cdro” and “Cdrow”, respectively.
“We have an ambitious expansion plan ahead of our online sports betting and gaming business in Latin America, and the closure of this operation provides us with the resources to continue it. We are very excited to have been invited to ring the opening bell at Nasdaq, in an event that values months of hard work and crystallizes the strength of our project “, explained Moshe Edree. For his part, Vicente Di Loreto, CEO of Grupo Codere, which holds a majority stake in Codere Online, stated that “the closure of this transaction, which follows the recent financial restructuring of Grupo Codere, will provide Codere Online with the funds to strengthen its great growth potential, mainly in the Latin American market. “.
The event was followed on the Nasdaq channel: https://livestream.com/accounts/27896496/events/9945232.
Codere Online concluded the merger with Spac Dd3 Acquisition Corp. II (“DD3”) on Tuesday 30 November, after the approval of the transaction by the Shareholders’ Meeting of 18 November 2021 and compliance with the closing conditions.
Following the merger, Codere Online received a gross grant of approximately $ 116 million (approximately $ 103 million net of transaction fees), subject to the terms and conditions of the merger, which will primarily be used in marketing investments, business growth, technological development and optimization of the gaming platform.
With the appointment of Patrick Ramsey as non-executive chairman on November 30, Codere Online has concluded the composition of its Board of Directors, made up of four members appointed by the Codere Group, including Moshe Edree, general manager of Codere Online; Oscar Iglesias, CFO of Codere Online; Alejandro Rodino, Director of the strategic and corporate areas of Grupo Codere; and Laurent Teitgen, as independent director. It also includes two independent directors appointed by Dd3 Sponsor Group, LLC: Martin M. Werner, president and CEO of DD3 Capital Partners, and Daniel Valdez, director of Credit Portfolio of MG Capital.