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
Find more news, interviews, share price & company profile here for:
Golden Matrix announced that insider Aleksandar Milovanović has converted $500,000 of post-closing cash consideration into common stock under the MeridianBet acquisition agreement.
Golden Matrix posted record August revenues of $17.8m, up 18% from last year, with July revenues also rising 24% to $15.7m. Strong performance came from Meridianbet’s sports betting and RKings’ tournaments, positioning the group for record Q3 results.
Discover how Golden Matrix Group, Inc. (NASDAQ: GMGI) is transforming the gaming landscape with innovative raffle models, driving growth and engagement in FY2024.
Golden Matrix Group Inc (NASDAQ: GMGI) reports record growth for FY 2024, achieving 63% revenue increase, bolstered by strategic acquisitions and AI advancements.
As Meridianbet continues to scale its operations in Nigeria, it is well-positioned to redefine the gaming experience
Meridianbet earns recognition on Oracle’s Global Reference Page for its AI-driven betting innovations, highlighting its leadership in customer engagement.
