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

PlayAGS, Inc. (AGS) revealed on Thursday plans to be bought out by affiliates of Brightstar Capital Partners, a private investment firm with a focus on industrial, manufacturing, and service sectors. As a result, AGS stocks saw a 26% increase during pre-market trading.

The terms of the deal propose that AGS shareholders would receive $12.50 per share in cash. This value per share constitutes a 41% premium compared to the average share price over the past 90 days, and a 40% increase compared to AGS' closing price on May 8, 2024.

David Lopez, CEO and President of AGS, is positive about the future growth prospect. He said, "With resources and strategic guidance from Brightstar, we envisage AGS making strategic investments in Research & Development, retaining top talent, enhancing operations, and advancing industry-leading innovation, thereby expanding our global footprint."

The acquisition, scheduled to conclude in the second half of 2025, depends on achieving standard closing conditions and receiving necessary regulatory approvals.

Post this transaction, AGS will become a privately-owned enterprise with its common stock no longer available for public trading.

During the pre-market trading on the New York Stock Exchange, the stocks were traded at $11.35, marking an uptick of 26.65%.