Mergers & Acquisitions ·
Enhanced Group agrees to acquire ~77% of DEAG in all-stock deal and raises $15M PIPE
APADEnhanced Group Inc.
Enhanced Group Inc. entered into definitive exchange agreements to acquire an approximately 77% controlling interest in Deutsche Entertainment AG (DEAG), a leading European live entertainment and ticketing platform, by issuing roughly 10.97 million newly issued Class A common shares valued at $8 per share. The all-stock transaction values DEAG's equity at approximately $115 million, implying an enterprise value of about $139 million or 5.3x FY2027E Adjusted EBITDA. Concurrently, the company is conducting a private placement (PIPE) to issue 2.11 million shares at $7.11 per share for approximately $15 million in gross proceeds. The combined entity expects to generate roughly $670 million in revenue and $26 million in Adjusted EBITDA in FY2027. Enhanced Group operates a sports competition, performance products, and telehealth platform.