Genius Sports Completes Acquisition of Legend and Secures Financing

Genius Sports Limited has completed its acquisition of Legend, a digital sports and gaming media network, for $800,000,000 in cash and 10,088,781 ordinary shares. The company also secured an $825 million senior secured term loan facility and a $220 million senior secured revolving credit facility, maturing on April 30, 2031. The acquisition is expected to be immediately accretive to Genius Sports' Adjusted EBITDA margins and Free Cash Flow conversion. A lock-up agreement is in place for the Consideration Stock, restricting its sale for six months. The company has also entered into a Credit Agreement, which includes financial covenants such as maximum total net leverage ratio and interest coverage ratio.