With the opening bell ringing in Times Square, Codere Online celebrates its stock market debut.
Madrid, December 1, 2021. With the iconic bell ringing at the Nasdaq Tower in Times Square, Codere Online celebrated its debut on the North American stock market this Wednesday, in a virtual event broadcast internationally and live.
The CEO of Codere Online, Moshe Edree, has been in charge of ringing the virtual bell at the market opening at the Nasdaq Tower, New York, accompanied by company employees and collaborators, thus remotely marking the start of stock trading. With this, the ordinary shares and warrants of Codere Online Luxembourg S.A. they have started trading under the tickers "CDRO" and "CDROW", respectively.
“We have an ambitious expansion plan ahead of our online sports betting and gaming business in Latin America, and the closure of this operation provides us with the resources to continue it. We are very excited to have been invited to ring the opening bell at Nasdaq, in an event that highlights months of hard work and crystallizes the strength of our project, ”explained Moshe Edree.
For his part, Vicente Di Loreto, CEO of Grupo Codere, which holds a majority stake in Codere Online, stated that “the closure of this operation, which follows the recent financial restructuring of Grupo Codere, will provide Codere Online with funds to capture its great growth potential, mainly in the Latin American market ”.
An event that can be viewed on the Nasdaq channel through the link https://www.nasdaq.com/events/codere-online-rings-the-opening-bell-in-celebration-of-its-ipo.
Codere Online concluded its merger with SPAC DD3 Acquisition Corp. II (“DD3”) on Tuesday, November 30, after the approval of the operation by its Shareholders' Meeting on November 18, 2021 and compliance with the closing conditions .
As a result of the merger, Codere Online has received a gross contribution of approximately $ 116 million (approximately $ 103 million net of transaction expenses), subject to the terms and conditions of the merger, which will be used primarily for marketing investments, growth of the business, technological development and optimization of the gaming platform.
The new company concludes the composition of its Board of Directors
With the appointment this Tuesday of Patrick Ramsey as non-executive chairman, Codere Online has concluded the composition of its Board of Directors, made up of four members appointed by the Codere Group, including Moshe Edree, CEO of Codere Online; Oscar Iglesias, CFO of Codere Online; Alejandro Rodino, Director of Strategy and Corporate Areas of Grupo Codere; and Laurent Teitgen, as independent director. In addition, it includes two independent directors nominated by DD3 Sponsor Group, LLC: Martin M. Werner, president and CEO of DD3 Capital Partners, and Daniel Valdez, portfolio director of MG Capital.
Additional information is available at www.sec.gov, in the investors section of the Codere Group website https://www.grupocodere.com/accionistas-inversores/, as well as on the Codere Online website www.codereonline. com.