Saturday, October 1, 2022

Allwyn and CRHC business combination declared effective by SEC

Allwyn Entertainment’s registration statement on Form F-4, in connection with its previously announced proposed business combination with Cohn Robbins Holdings Corp. (CRHC), has been declared effective by the US Securities and Exchange Commission (SEC).

The lottery operator has advised CRHC shareholders to “read the registration statement and all other relevant documents filed or that will be filed with the SEC in connection with the business combination before making any voting or investment decision.”

CRHC has announced a meeting date of 7 September 2022 for its extraordinary general meeting to approve the business combination, with the closing of the business combination subject to approval by CRHC’s shareholders, and the “satisfaction or waiver of other customary closing conditions.”

Upon closing, the combined company is expected to be listed on the New York Stock Exchange with its Class B ordinary shares and warrants under the new ticker symbols ALWN and ALWN.WS.

The CRHC board of directors has recommended that all shareholders vote in favour of all proposals in advance of the meeting.

“CRHC believes the global lottery industry has attractive characteristics, including high consumer participation across wide demographics, resiliency through market cycles and upside potential from increasing online penetration,” a statement from the group read.

“Allwyn is a leader in the $300bn global lottery industry, operating lotteries through both retail and online channels in multiple European countries, including Austria, the Czech Republic, Greece, Cyprus and Italy.”

Allwyn was recently selected by the UK Gambling Commission as the preferred applicant in the competition for the fourth licence to operate the UK National Lottery, following almost 30 years of Camelot as the licensee.

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