Bragg Gaming to undergo 10:1 reverse stock split in effort to earn Nasdaq listing

Bragg Gaming Group (TSE:BRAG) (OTCMKTS:BRGGF) (FRA:SL4A) announced that it is undergoing a 1-for-10 share consolidation in connection with a potential listing on the Nasdaq. 

The gaming technology company received the blessing of shareholders at its annual and special meeting on April 28, the company said. 

“The share consolidation is an important step in our US expansion strategy,” Interim CEO Adam Arviv said in a statement. “It allows Bragg to list on the Nasdaq, which in turn provides the company with increased flexibility, enhanced liquidity and a higher profile with potential investors. We’re pleased that the shareholders shared our vision.” 

READ: Haywood Capital initiates coverage of Bragg Gaming with Buy rating and $3 price target

The post-consolidation shares are expected to begin trading on the Toronto Stock Exchange on May 5.

Bragg’s proposed Nasdaq listing is dependent on satisfying quantitative and qualitative listing standards, the company said, and there is no assurance that such listing will be completed.

Bragg Gaming is a global B2B gaming technology platform provider. With operations across Europe and North America, the company is expanding into an international force within the burgeoning global online gaming market.

Bragg’s main brand is ORYX Gaming, an innovative business-to-business iGaming platform, casino content aggregator, managed sportsbook and managed services provider, offering cutting-edge content from leading studios.

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Story by ProactiveInvestors