Oct 28, 2021 (AB Digital via COMTEX) -- CHICAGO - October 28, 2021 - Shareholder, Joel J. H. Funk led the Hart David Carson team in its representation of Addicting Games, an online portal that provides an extensive library of over 1,500 casual game titles spanning action, sports, puzzles, etc. The acquisition by Enthusiast Gaming Holdings /zigman2/quotes/216212788/delayed CA:EGLX -3.13% /zigman2/quotes/214692033/composite EGLX -5.17% , the world’s largest platform of communities for gamers and esports fans, included total consideration of approximately $34.4M comprised of cash and stock, deferred payments on the first and second anniversary of the closing date, as well as an assumption of a convertible debenture. Throughout the transaction, Funk advised Addicting Games on appropriate financing mechanisms, business issues and provided drafting and negotiation of the key transactional documents in connection with the sale.
The acquisition delivers on Enthusiast Gaming’s buy-and-build growth strategy and expands the company into casual gaming to own more monthly active users and viewers within the key Gen Z and Millennial demographic.
“Combining Enthusiast Gaming’s scale and expertise with (Addicting Games’) properties and titles will increase engagement, drive new revenue opportunities, and provide the resources to develop new titles and fan experiences”, says Bill Karamouzis, CEO of Addicting Games.
About HDC’s M&A Practice:
Hart David Carson (“HDC”) is a premier middle-market pre-IPO corporate law firm with a diversified business practice based in Elmhurst, Illinois. HDC offers legal advisory services in areas such as mergers & acquisitions, international IP protection, privacy and information security, securities (options, et. al.), start-ups, venture capital, domestic and international tax, technology transactions, and trademarks. The attorneys at HDC represent a wide range of clients in the commercial, industrial, and financial sectors, both domestically and internationally including but not limited to, banks, broker-dealers, insurance companies, real estate investors, executives, owner operators, and investment managers. HDC is an innovative and entrepreneur-focused practice that sees and brokers transformative deals, complex IP issues, and bet-the-company litigation; often where HDC shines in its creative advice and counsel to businesses and individuals. HDC offices span the continental United States, with its headquarters in Illinois and South Carolina. While US-based, HDC further extends its reach cross-border through strategic associations in Europe, Asia, throughout the Caribbean, and South America.
Since 2012, HDC has built a reputation for its innovative and powerful legal counsel. In all, HDC provides the sophistication and expertise of a global law firm with the responsiveness and care of a boutique firm.
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