Codere Online Completes Merger with DD3 and Can Now List on Nasdaq
Gambling operator Codere Online has completed its merger with DD3 Acquisition Corp II and debuted its shares on the Nasdaq Capital Market.
The leading online gaming and sports betting operator in Latin America made the announcement after meeting the closing conditions and the approval of the merger by DD3's stockholders on November 18, 2021.
The business combination will see Codere Online get gross proceeds of about $116m (£87.1m/€102.2m), or approximately $103 million net of transaction fees and expenses.
These proceeds will be used to fund Codere Online's marketing campaigns in Latin America and support technology investment to further the company's growth plan in the region.
Codere online ordinary shares and warrants went live and began trading on the Nasdaq Capital Market yesterday, under the symbols "CDRO" and "CDROW," respectively, making it the first online gaming operator in Latin America to become publicly listed on a US exchange.
We are very excited to have completed this transaction after months of hard work and look forward to deploying the funds obtained to deliver on our mission to become one of the leading online gaming and sports betting operators in Latin America.
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