Business Context and Reporting Period
This Form 8-K is filed by Hydra Industries Acquisition Corp. (not Inspired Entertainment, Inc.) on December 7, 2016. The filing addresses a proposed business combination with Inspired Gaming Group.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses on corporate governance events regarding a pending merger.
Material Changes
- Meeting Adjournment: The special meeting of stockholders originally scheduled for December 13, 2016, has been adjourned without conducting business.
- New Meeting Date: The meeting will reconvene on December 21, 2016, at 10:00 a.m. Eastern time.
- Redemption Deadline Extension: The deadline for shareholders to redeem their shares or withdraw redemption demands has been extended to the close of business on December 19, 2016.
Guidance, Outlook, and Risks
Management has not provided financial guidance or outlook in this filing. The primary contingency is the successful vote on the proposed business combination with Inspired Gaming Group at the rescheduled meeting. The filing references a proxy statement filed on November 23, 2016, for further details on the proposals.
Investor Verification Checklist
- Verify the new meeting date (December 21, 2016) and location (Kramer Levin Naftalis & Frankel LLP, New York).
- Confirm the extended redemption deadline (December 19, 2016) for exercising rights to withdraw shares.
- Review the proxy statement filed on November 23, 2016, for details on the business combination terms.
- Note that the registrant is Hydra Industries Acquisition Corp., not Inspired Entertainment, Inc.