Summary by Moomoo AI
On August 6, 2024, shareholders of PlayAGS, Inc. will cast their votes on a proposed merger with Bingo Merger Sub, Inc., a subsidiary of Bingo Holdings I, LLC, under the management of Brightstar Capital Partners. If the merger is approved, each AGS Common Share will be converted into a right to receive $12.50 in net cash per share. The contract adjustment, which will result in a new deliverable per contract of $1,250.00 cash, is expected to take place in the second half of 2025, effective the opening of the business day following the merger's completion. The settlement of AGS options will be conducted through the OCC's cash settlement system, with the settlement amount being the difference between the strike amount and the cash deliverable. Additionally, equity stock option contracts adjusted for cash-only delivery will experience an accelerated expiration date as per OCC Rule 807.