Ogier advises on US$1.5 billion dMY II SPAC merger and NYSE listing

Ogier in Guernsey has advised dMY Technology Group Inc II (dMY II), a New York Stock Exchange (NYSE) listed special purpose acquisition company (SPAC), on its successful business combination with UK-based Genius Sports Group Limited (GSG).

GSG and dMY II shareholders have exchanged their shares for shares in a new Guernsey incorporated company, Genius Sports Limited, which has been listed on the NYSE. The transaction implied a pro forma pre-combination enterprise value of approximately US$1.5 billion.

dMY II was a publicly traded SPAC founded for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

Genius Sports is a leading provider of sports data and technology. As well as being the official data provider to the NFL, it has partnerships with over 400 sports organizations including Major League Baseball, the PGA, the NBA, the EPL, the  NCAA and NASCAR and its technology is used in over 150 countries worldwide. 

Partner Bryon Rees, managing associate Richard Doyle, counsel Michaela Jesson and associate William Schofield advised on Guernsey law matters, supporting and working with US and UK teams from lead counsel for dMY II, White & Case LLP, and lead counsel for GSG, Kirkland & Ellis LLP.

Bryon said: "Ogier are delighted to have supported on this transaction and we wish Genius Sports great success as it enters a new chapter in its history.  We continue to see increased levels of SPAC activity in the Guernsey market and are pleased to see a further Guernsey incorporated NYSE listed company, following another ground breaking NYSE listing we have supported recently."