NEW YORK, Nov. 23, 2016 /PRNewswire/ -- Hydra
Industries Acquisition Corp. ("Hydra" or the "Company") (NASDAQ:
HDRA, HDRAU, HDRAW, HDRAR), a special purpose acquisition company
formed for the purpose of effecting a merger, acquisition or
similar business combination, announced today that its special
meeting of stockholders to approve its previously announced
business combination with Inspired Gaming Group ("Inspired"), a
global gaming technology company headquartered in London, has been scheduled for December 13, 2016. The Company filed
its definitive proxy statement with the SEC today and stockholders
of record as of the close of business on November 9, 2016 (the "Record Date") will be
entitled to notice of, and to vote at, the special meeting and any
adjournments or postponements thereof. The full special
meeting agenda is included in Hydra's definitive proxy statement,
which will be mailed to stockholders of record on or about
November 23, 2016.
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As disclosed in the proxy statement, Hydra intends to file an
application with Nasdaq to continue listing its common stock and
warrants under the tickers INSE and INSEW and, upon closing of the
business combination, to change its name to Inspired Entertainment,
Inc.
Additional Information About the Transaction and Where to
Find It
Stockholders are urged to read the proxy statement in connection
with the special meeting. Hydra's SEC filings, including the proxy
statement, can be obtained without charge on the SEC's website at
www.sec.gov and on Hydra's website at www.hydraspac.com.
Forward-Looking Statements
This press release contains
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as "anticipate", "believe", "expect", "estimate",
"plan", "outlook", and "project" and other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. Such forward-looking statements
include statements concerning the potential business combination.
These statements are based on Hydra's management's current
expectations and beliefs, as well as a number of assumptions
concerning future events.
Such forward-looking statements are subject to known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside of Hydra's control that could cause actual
results to differ materially from the results discussed in the
forward-looking statements. Additional factors that could cause
actual results to differ materially from those expressed or implied
in forward-looking statements can be found in Hydra's most recent
annual report on Form 10-K and subsequently filed quarterly reports
on Form 10-Q and current reports on Form 8-K, which are available,
free of charge, at the SEC's website at www.sec.gov and on
Hydra's website at www.hydraspac.com.
About Inspired Gaming Group
Inspired is a global gaming technology company, supplying
Virtual Sports, Mobile Gaming and server-based gaming systems with
associated terminals and digital content to regulated betting and
gaming operators around the world. Inspired currently operates more
than 25,000 digital gaming terminals and supplies its Virtual
Sports products in more than 30,000 venues and on over 200 websites
in 30 countries. Inspired employs over 800 employees in the UK and
elsewhere, developing and operating digital games and networks.
Additional information can be found at
www.inspiredgaminggroup.com.
About Hydra Industries Acquisition Corp.
Hydra is a
blank check company formed for the purpose of effecting a merger or
other business combination with a target company. Hydra was founded
by gaming industry veteran Lorne
Weil and raised $80 million on
October 29, 2014 in its Initial
Public Offering. In addition, Macquarie Capital co-sponsored
Hydra's efforts to source acquisitions and provided a $20 million forward equity commitment which, with
Hydra's existing cash in trust, will be used to fund the proposed
transaction.
Additional information can be found at www.hydraspac.com.
About Macquarie and Macquarie Capital
Macquarie Group
("Macquarie") is a global provider of banking, financial, advisory,
investment and funds management services. Macquarie's main business
focus is making returns by providing a diversified range of
services to clients. Macquarie acts on behalf of institutional,
corporate and retail clients and counterparties around the world.
Founded in 1969, Macquarie operates in more than 70 office
locations in 27 countries. Macquarie employs approximately 13,800
people and has assets under management of over $377 billion (as of September 30, 2016).
Macquarie Capital comprises Macquarie Group's corporate
advisory, capital markets and principal investing capabilities.
Macquarie Capital's expertise spans a variety of industry sectors,
including telecommunications, media, entertainment, gaming,
financial institutions, industrials, energy, resources, real
estate, infrastructure, utilities and renewables.