GAN Ltd

GAN Ltd (GAN) priced its initial public offering on May 5, 2020 at $8.50 per share, within its $6.50–$8.50 range, raising $54.2M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $237.9M. B. Riley was lead-left underwriter, joined by Macquarie and Craig-Hallum. Walkers and Sheppard Mullin advised the company.

GAN Ltd provides software-as-a-service for online casino gaming and online sports betting through its GameSTACK platform, deployed in Europe and the United States. It focuses mainly on the U.S. market, serving regional operators and tribal casino operators running online casinos and sportsbooks.

Status

IPO

Ticker

GAN

Exchange

Nasdaq Capital Market

Priced

May 5, 2020

IPO price

$8.50

Price range

$6.50–$8.50

Raised

$54.2M

Market cap at IPO price

$237.9M

First filed

Mar 25, 2020

Underwriters

B. Riley, Macquarie and Craig-Hallum

Company counsel

Walkers and Sheppard Mullin

Sector

Technology

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.