PlayAGS To Be Acquired By Brightstar For $12.50 Per Share In Cash; Stock Up In Pre-market

(RTTNews) - PlayAGS, Inc. (AGS) announced on Thursday that it has agreed to be acquired by affiliates of Brightstar Capital Partners, a private equity firm specializing in investing in industrial, manufacturing, and services businesses. The stock is up 26% in pre-market trading.

Under the terms of the agreement, AGS shareholders will be paid $12.50 per share in cash. This price per share offers a 41% premium to the Company's average share price over the last 90 days and a 40% premium over AGS' closing price on May 8, 2024.

David Lopez, CEO & President of AGS said, "With Brightstar's resources and strategic guidance, we believe AGS will be well-positioned to make targeted investments in R&D, top talent, operations, and industry-leading innovation, which should accelerate our global footprint."

The planned acquisition, expected to be finalized in the second half of 2025, is contingent upon standard closing conditions and regulatory approvals.

Once the transaction is completed, AGS will transition into a privately owned entity, with AGS common stock no longer being publicly traded.

In pre-market activity on the NYSE, the shares are trading at $11.35, up 26.65%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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