An investor sued architects of the blank-check merger between online gambling company Super Group and a shell entity, claiming they duped shareholders into approving a lousy deal that made insiders rich, Bloomberg reports.

betway and Spin, an online casino.

Approved by the SPAC's shareholders in January 2022, the transaction was expected to generate approximately $202.4 million — less than half the amount originally anticipated when the deal was announced last year. Redemptions hit 55% of shres outstadning ahead of the merger vote. Read more.

Source: Super Group's Blank-Check Backers Hit with SPAC Deal Challenge