White & Case advises GiG Software and Gentoo Media on spin-off and listing of GiG Software

Global law firm White & Case LLP has advised GiG Software PLC and its former parent company Gentoo Media Inc. on the spin-off and distribution of Gentoo Media's platform business GiG Software to Gentoo Media's shareholders, and the listing of Swedish Depositary Receipts (SDRs) indirectly representing shares in GiG Software on Nasdaq First North Premier Growth Market.

"We have advised the stellar teams at Gentoo Media and GiG Software on this landmark transaction, which marks a major transformative step on their respective growth journeys," said White & Case partner Johan Thiman, who led the Firm's deal team. "We leveraged the combined expertise of our teams across our seamlessly integrated offices in Sweden, Helsinki and the US to meet Gentoo Media's and GiG Software's needs."

Based on the closing price on the first day of trading in the GiG Software SDRs, GiG Software's market cap is SEK 727 million and Gentoo Media's market cap is NOK 3,570 million.

The spin-off splits Gentoo Media into two distinct entities: GiG Software, which will be operating independently as a new public company, managing the platform and sportsbook business; and Gentoo Media, which will continue to operate independently as a public company dual-listed on Nasdaq Stockholm and Oslo Børs and manage the media business. The spin-off was implemented by way of a series of transactions involving cross-border mergers in the US and Malta, and the issuance of Norwegian Depository Receipts, representing Maltese shares, and SDRs. Following the spin-off, the GiG Software SDRs began trading on Nasdaq First North Premier Growth Market.

Headquartered in Malta, GiG Software is a business-to-business iGaming technology company that provides solutions, products and services to iGaming operators.

The White & Case team which advised on the transaction was led by partner Johan Thiman (Stockholm) and included partners Jessica Chen and David Johansen (both New York) and associates Gustaf Wiklund, Alexander Lausev Mardell, Carl Hedström, Albin Sonnsjö Lönegren (all Stockholm), Thomas Killeen (Helsinki) and Melissa Curvino (New York).

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