Golden Matrix Group, Inc. (NASDAQ:GMGI), a developer and operator of online gaming platforms, has announced the details of insider equity conversions pursuant to the previously disclosed Post-Closing Cash Conversion Agreement, part of the Sale and Purchase Agreement for MeridianBet. To date:
- $300,000 of post-closing consideration has been satisfied through share conversions.
- An additional $500,000 is being converted in five tranches, three of which have already been completed in September:
$100,000 at $1.23 → 81,300 restricted shares (effective August 29, 2025),$100,000 at $1.02 → 98,039 restricted shares (effective September 5, 2025),$100,000 at $1.01 → 99,009 restricted shares (September 12, 2025).Two further $100,000 tranches are scheduled for September 19 and September 26, 2025, at the respective closing prices on those dates. Following the completion of these conversions, approximately $9.2 million of the original $10 million post-closing obligation will remain payable in October 2025, consistent with the terms of the agreement.
Golden Matrix insider Aleksandar Milovanović reports conversion of $500,000 post-closing cash consideration into common stock
- Written by: Amilia Stone
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