Gan Limited extends Sega Sammy merger agreement

Gan Limited (GAN) announced that it has entered into an amendment to the merger agreement for the proposed merger of Gan and a subsidiary of Sega Sammy Creation, an affiliate of Sega Sammy. The amendment extends the end date of the merger agreement from February 7 to May 31. The end date is the date on which a non-breaching party can elect to terminate the merger agreement by notice to the other party, if the closing has not yet occurred. The parties have entered into the amendment to give them additional time to complete the process of securing necessary approvals from regulatory gaming authorities. Except for the extension of the end date, the terms of the merger agreement are unchanged. The closing of the merger remains subject to other customary closing conditions, and is now expected to occur in the second quarter of 2025.