UPDATE: Benchmark Starts Acies Acquisition Corp. (ACAC) at Buy, $15 PT
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Benchmark analyst Mike Hickey initiates coverage on SPAC Acies Acquisition Corp. (NASDAQ: ACAC), which is merging with Playstudios, with a Buy rating and a price target of $15.00.
The analyst commented "We are initiating coverage on Acies Acquisition Corp. (Nasdaq: ACAC), which is a special purpose acquisition company (SPAC) that is in the process of acquiring Playstudios (MYPS), with a Buy rating and $15 price target. MYPS is a developer and publisher of free-to-play (F2P) casual games for mobile and social platforms that are uniquely energized by a differentiated playAWARDS loyalty program. Post transaction, MYPS is expected to have nearly $300M of cash and no debt."
Shares of Acies Acquisition Corp. closed at $9.91 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage, SPAC
Related EntitiesDefinitive Agreement, SPAC
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