Accel Entertainment’s $84 Million Follow-On Offering

Fenwick & West LLP advised Accel Entertainment, Inc. on the deal.

Accel Entertainment, Inc. (NYSE: ACEL) (the “Company”) announced the pricing of its previously announced underwritten public offering of its Class A-1 Common Stock. The Company will sell 8,000,000 shares of its Class A-1 Common Stock at a public offering price of $10.50 per share for a total offering size of $84,000,000. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of Class A-1 Common Stock.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers and as representatives of the underwriters for the offering and Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering.

Accel is a leading distributed gaming operator in the United States on an Adjusted EBITDA basis, and a preferred partner for local business owners in the Illinois market. Accel’s business consists of the installation, maintenance and operation of VGTs, redemption devices that disburse winnings and contain ATM functionality, and other amusement devices in authorized non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.

The Fenwick transaction team included corporate partners Robert Freedman (Picture) and Mark Stevens; counsel Nicolas Dumont and associates Johnny Meraz-Debraine, Jonathan Allan, Ammanuel Gebeyehu and Alyssa Zhang.

Involved fees earner: Jonathan Allan – Fenwick & West LLP; Nicolas Dumont – Fenwick & West LLP; Robert Freedman – Fenwick & West LLP; Ammanuel Gebeyehu – Fenwick & West LLP; Jean Meraz-Debraine – Fenwick & West LLP; Mark Stevens – Fenwick & West LLP; Alyssa Zhang – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: Accel Entertainment;

Author: Ambrogio Visconti