March 01, 2024

OverActive Media completes acquisition of KOI and Movistar Riders

Goodmans LLP acted as legal advisor to OverActive Media Corp. in connection with its strategic all-share acquisition of certain esports assets of Goatch Global, S.L. (operating as "KOI") and all of the outstanding shares of Team Randomk Esports S.L. (operating as "Movistar Riders").

OverActive Media is Canada’s largest esports ownership group that strives to build an integrated global company delivering sports, media and entertainment products for today's generation of fans with a focus on esports, videogames, content creation and distribution, culture, and live and online events. With these strategic acquisitions complete, OverActive Media solidified its status as a dominant force in the global esports industry.

The consideration paid by OverActive for the acquisitions consisted of up to 45 million common shares issued at closing, and up to 15 million common shares to be issued based on OverActive Media's EMEA based business achieving certain adjusted EBITDA targets in the future. The transaction included escrow and lock-up arrangement for a certain portion of the issued common shares.

The Goodmans LLP team participated in all aspects of the transaction as legal advisor to OverActive Media, including having primary carriage of all legal documentation and working together with targets’ counsel, Spanish law firms Garrigues, S.L.P. and Marimón Abogados, S.L.P.

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