United States securities and exchange commission logo
December 22, 2022
Ross M. Leff
Partner
Kirkland & Ellis LLP
601 Lexington Avenue
New York, New York 10022
Re: Genius Sports Ltd
Schedule TO-I/A
filed December 20, 2022
SEC File No.
5-93523
Form F-4/A filed
December 20, 2022
SEC File No.
333-268457
Dear Ross M. Leff:
We have reviewed your amended filings and have the following
comments. In some of
our comments, we may ask you to provide us with information so we may
better understand your
disclosure.
Please respond to these comments by providing the requested
information or advise us as
soon as possible when you will respond. If you do not believe our
comments apply to your facts
and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have
additional comments.
All defined terms have the same meaning as in the prospectus.
Schedule TO-I/A filed December 20, 2022
General
1. We note the revised
disclosure that the Company is soliciting consents to amend the
Warrant Agreement to
provide that any warrants not exercised during the offer period will
be automatically
exercised on a cashless basis immediately upon expiration at a less
advantageous exercise
price. We further note that although the offer is conditioned on
receiving consents from
holders of more than 50% of the outstanding warrants, the
Company may waive this
offer condition. If this offer condition is waived, warrant
holders who do not
tender into the offer and exercise their warrants at the reduced exercise
price will remain
subject to the original $11.50 exercise price. Please revise your
disclosure to state
that if the Company waives the "consent condition," it will disseminate
revised disclosure to
warrant holders and will additionally extend the offer period, if
Ross M. Leff
Kirkland & Ellis LLP
December 22, 2022
Page 2
necessary, to allow adequate time for them to consider the change and
its impact. In our
view, the waiver of that offer condition would require that at least
five business days
remain in the offer period from the time revised disclosure is
disseminated.
2. We note that if the consent solicitation is successful, the exercise
price of the warrants will
be reduced from $11.50 to an exercise price that is 74% of the
volume-weighted average
price of the ordinary shares for the one-Trading Day period on the
NYSE on the second
Trading Day before the Expiration Date (if such Reduced Exercise Price
would be less
than $11.50 per share), which one-Trading Day period is expected to be
January 17,
2023. Revise to describe how warrant holders will know the
volume-weighted average
price of the ordinary shares on the relevant date. For example, note
whether the Company
will issue a press release on the determination date and how warrant
holders can access it
on EDGAR.
3. Disclose that warrant holders may withdraw their exercises during the
offer period,
consistent with the requirements of Rule 13e-4(f)(2), and explain the
process for doing
so.
We remind you that the filing persons are responsible for the accuracy
and adequacy of
their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
Please direct any questions to Christina Chalk at (202) 551-3263.
FirstName LastNameRoss M. Leff Sincerely,
Comapany NameKirkland & Ellis LLP
Division of
Corporation Finance
December 22, 2022 Page 2 Office of
Mergers & Acquisitions
FirstName LastName