PlayUp set to go public via IG Acquisition Corp

Sportsbook operator PlayUp has submitted a filing to be registered as a public company, with the help of a special purpose acquisition company (SPAC), IG Acquisition Corp

Sportsbook operator PlayUp has submitted a filing to be registered as a public company, with the assist of a special intention acquisition companion (SPAC), IG Acquisition Corp.

The deal submitted by IG Acquisition will assure PlayUp precious at $350m.

The operator and SPAC say the dealings to spell public will assist monetary fund the expansion of PlayUp. type A monetary fund managed past Yorkville Advisors Global has already in agreement(p) to vest $70m inwards PlayUp.

Filing Form 8-K to the tell of Delaware, the SPAC IG Acquisition testament care the sound unconscious process for PlayUp to transition from a private society to a public one.

Public companies must listing their financial reports on a quarterly, half-year and full-year basis, offering full transparency with compliments to any business litigate or filing.

In July this year, PlayUp launched a retrospect to explore new strategies, including the potency sale of the company.

Earlier this year, meanwhile, PlayUp was inwards a sound battle with its ex-CEO Dr Laila Mintas, after PlayUp accused Mintas of workings to undermine a $450m takeover try from FTX, a cryptocurrency exchange.

Despite beingness accused of sabotaging the deal, the former PlayUp CEO Mintas won a courtyard ruling against the company.

She said at the time: “All the claims mentioned inward the filings are wrongfulness and my lawyers are working on filing shortly my response to those claims, to recite the avowedly story based on written evidence.

“The companion is in possession of an FTX email stating the facts of wherefore FTX rejected the trade which i testament bow to the court, which clearly outlines the reasons on the Australian position of the leading team up as the deal-breaker.”