Cooley Advised PrizePicks on Sale to Allwyn for up to $4.15 Billion

Cooley Advised PrizePicks on Sale to Allwyn for up to $4.15 Billion

Cooley advised PrizePicks, the largest daily fantasy sports operator in North America, on its definitive agreement for Allwyn International to acquire a majority stake in PrizePicks at an upfront enterprise value of $2.5 billion. If PrizePicks achieves certain performance metrics over the next three years, additional cash consideration under the agreement would result in an enterprise value of up to $4.15 billion. The transaction is anticipated to close in the first half of 2026.

The Cooley team advised PrizePicks was led by Mike Lincoln (Vice Chair) with Kevin Cooper (Partner) and Eileen Marshall (Partner) with Paula Fleckenstein (Associate), Sarah Buchik (Associate), Dennis Craig (Associate), Eddie Sniezek (Associate), Asal Yunusov (Associate), Mariam Kamal (Associate) and Vicky Kandabarow (Associate).

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