Leading Destination Operator to Purchase $ 5 Million of Shares of Black Ridge Acquisition Corp. and Collaborate with Allied Esports to Build Esports Venues at Simon Properties
"Simon Cup" Tournaments and Activations with HyperX Esports Truck to Launch at Select Simon Locations This Fall
IRVINE, Calif .– (BUSINESS WIRE) –Black Ridge Acquisition Corp. (NASDAQ: BRAC), a public acquisition vehicle, today announced that it has entered a letter to Simon Equity Development, LLC, to wholly-owned and indirect subsidiary of Simon Property Group (NYSE: SPG), to become a shareholder of Allied Esports, a global export entertainment company, through an equity investment in Black Ridge Acquisition Corp.
As previously announced, Allied Exports and its sister company, the World Poker Tour®, both currently owned by Ourgame International Holdings Limited, will be acquired, once all applicable shareholder and regulatory consents have been obtained, by Black Ridge Acquisition Corp. to Allied form Esports Entertainment (the "Business Combination").
Highlights from the letter agreement includes:
- Simon acquiring $ 5 million in shares of Black Ridge Acquisition Corp .;
- Simon and Allied Esports creating dedicated exports to select Simon locations throughout the United States; and
- Simon and Allied Esports launching a new competition tour called The Simon Cup.
Black Ridge Transactions and Transactions with Black and White Transactions and consummation of the Business Combination.
Simon and Allied Esports will also collaborate to create a new product offering focused on delivering experiences through integrated gaming venues and production facilities in select Simon destinations around the country. The in-mall arenas will be designed for tournament play and daily use
“We are extremely pleased to collaborate with Black Ridge and Allied Esports, leading innovators in exports and gaming, to bring cutting-edge venues to our iconic properties around the country. This is the type of innovative activation that our customers and drives traffic for our centers at Simon. Said Simon Silvestri, Simon's Chief Operating Officer for Development. Simon's successful locations are ideally suited to providing these new and exciting community spaces.
"Simon's World Property Network," said Lyle Berman, Director of Black Ridge, "The agreement with Simon is a landmark opportunity to bring Allied Esports' vision to the future of competitive gaming." "As we work to close the transaction combining our NASDAQ-listed Black Ridge Acquisition Corp. with Allied Exports and WPTs, the significant investment by Simon would be to testament to our plans and to the opportunity Simon sees to participate in this growing industry. "
In addition, Allied Esports and Simon will launch this year's The Simon Cup, a groundbreaking, co-branded exporting competition and gaming tournament festival combining online and in-person elements into a uniquely integrated content format. The activation of regional tournament events at select Simon centers in the New York and Los Angeles markets, culminating in a Grand Final at the iconic HyperX Esports Arena Las Vegas.
Said Frank Ng, co-CEO of Ourgame, owner of Allied Esports, “Simon's commitment and investment in our growing export ecosystem will immediately strengthen our foundation for creating live experiences and compelling content for gamers and fans around the world. "We are looking forward to working closely with the forward-thinking team at Simon to design specialized mall-based export concepts that we hope will attract new audiences and partners through their network and enhance our global presence."
Simon would purchase $ 5 million of newly issued shares of Black Ridge Acquisition Corp. at a price equal to the price at which Black Ridge Shareholders have their shares converted for a pro rata portion of the Black Ridge trust account upon closing of the Business Combination; however, the dollar amount of common stock of Black Ridge Acquisition Corp. in open market or privately negotiated transactions. Business Combination. Simon has agreed on the conversion of shares. Black Ridge would have to issue a quote for the business of the company, 10 Combination one additional share of the Black Ridge shares (1) ) share of Black Ridge shares stock (2) shares purchased pursuant to the purchase commitment. 8-K, which will be filed promptly and which can be obtained, without charge, on the Securities and Exchange Commission website (http://www.sec.gov).
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and a S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for annual sales and billions of people every day. For more information, visit simon.com.
About Allied Esports
Named to Fast Company's World's Most Innovative Companies list for 2019, Allied Esports is a premier export company with a global network of dedicated exporting properties and content production facilities. Its mission is to connect players, streamers and fans via integrated arenas and mobile export trucks around the world that serves as both gaming battlegrounds and everyday content generation hubs. Allied Esports is a subsidiary of Ourgame International (SEHK: 899), owner of WPT Enterprises, Inc., the operator of The World Poker Tour®. Ourgame has entered into an agreement with Black Ridge Acquisition Corp. (NASDAQ: BRAC) to combine, once all applicable shareholder and regulatory consents have been obtained, Allied Esports Entertainment, Inc.
Through the Allied Esports Property Network, the first esports through affiliated relationships available to partners looking to open new export facilities around the world, Allied Esports' locations currently includes 11 properties in the top three export markets across the globe: North America's HyperX Esports Arena Las Vegas; HyperX Esports Truck "Big Meta"; Esports Arena Orange County and Esports Arena Oakland; Europe's Esports Truck "Big Betty" and HyperX Esports Studio in Hamburg, Germany; and China's Lianmeng Dianjing in Beijing, Lianmeng Dianjing SEG Arena in Shenzhen, Lianmeng Dianjing Tianjin Arena, Lianmeng Dianjing Gui'an Arena and Lianmeng Dianjing LGD Gaming Hangzhou Arena. The Allied Esports Property Network's 12th property, run by Fortress Esports, is expected to open in Melbourne, Australia in 2019. For more information about Allied Exports and its global network of properties, visit AlliedEsports.gg and follow @AlliedEsports.
About Black Ridge Acquisition Corp.
Black Ridge Acquisition Corp. is a special purpose acquisition company sponsored by Black Ridge Oil & Gas, Inc. (OTCQB: ANFC) for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets. Black Ridge Acquisition Corp. completed its initial public offering in October 2017, raising $ 138 million in cash proceeds.
21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to the proposed transactions between Simon, Allied Exports and Black Ridge Acquisition Corp. in the case of the negotiation and execution of definitive agreements with the transactions between parties, the purchase of shares of Black Ridge Acquisition Corp. by Simon Property Group and achieving the desired results of the strategic alliance between the parties. Black Ridge Acquisition Corp. and Ourgame International Holdings Limited (the "Proposed Transaction") and other statements relating to future results, strategy and plans of Black Ridge and Ourgame (including certain projections and business trends, and statements which may be identified by the words "plans", "expects" or "does not expect", "estimated", "is expected", "budget", "scheduled", "estimates" , "Forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or changes of such words and phrases or state that certain actions, events or results "may", "could", "would "," Might "," projects "," will "or" will be taken "," occur "or" be achieved "). Forward-looking statements are based on opinions and management estimates of Black Ridge or Ourgame, as well as the case may be, as well as known, unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Black Ridge's performance to differ materially is included in Black Ridge's definitive proxy for the Combined and Black Ridge's other periodic reports filed with the SEC, including but not limited to Black Ridge's Form 10-K for the year ended December 31, 2018. Copies may be obtained by contacting Black Ridge or the SEC. Readers are cautioned to place undue reliance upon any forward-looking statements, which speak only as of the date made. These statements are made only as a result of the date hereof, and Black Ridge undertake no obligations to update or forward the statements, whether as a result of new information, future events or otherwise, except as required by law.
No Offer or Solicitation
This communication is for informational purposes only, nor is it a solicitation of any vote, consent, or approval in any jurisdiction pursuant to or in connection with the business combination or otherwise, nor is there any sale, issuance or transfer of securities in any jurisdiction in applicable law.
Participants in Solicitation
Black Ridge and Ourgame, and their respective executive directors and executives, may be considered in the solicitation of proxies of Black Ridge stockholders in respect of the Business Combination. 10, 31 for the year ended December 2018, XNUMX . Information about the executive director of Ourgame and more detailed information regarding the identity of potential participants, and their direct and indirect interests, by security holdings or otherwise, is set forth in Black Ridge's definitive proxy statement. Investors may obtain additional information on these interests www.sec.gov.
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