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| | | | 94 | | | |
| | | | 95 | | | |
| | | | A-1 | | | |
| | | | B-1 | | | |
| | | | C-1 | | | |
| | | | D-1 | | |
Name
|
| |
Citizenship
|
| |
Position with Parent
|
|
Jamie R. Odell | | | Australia | | | Director (Executive Chair) | |
Antonia Korsanos | | | Australia | | | Director (Executive Vice Chair) | |
Hamish R. McLennan | | | Australia | | | Director | |
Stephen Morro | | | USA | | | Director | |
Michael J. Regan | | | USA | | | Director | |
Virginia E. Shanks | | | USA | | | Director | |
Timothy Throsby | | |
United Kingdom and Australia
|
| | Director | |
Maria T. Vullo | | | USA | | | Director | |
Kneeland C. Youngblood
|
| | USA | | | Director | |
Matthew R. Wilson | | | Australia | | | President and Chief Executive Officer | |
James Sottile | | | USA | | | Executive Vice President and Chief Legal Officer | |
Siobhan Lane | | | USA | | | Executive Vice President and Group Chief Executive, Gaming | |
Oliver Chow | | | USA | | | Interim Chief Financial Officer | |
Name
|
| |
Citizenship
|
| |
Position with Light and Wonder International, Inc.
|
|
Siobhan Lane | | | USA | | |
Director; President and Chief Executive Officer
|
|
James Sottile | | | USA | | | Secretary | |
Name
|
| |
Citizenship
|
| |
Position with LNW Social Holding Company II, LLC
|
|
Matthew R. Wilson | | | Australia | | | President | |
Name
|
| |
Citizenship
|
| |
Position with Bern Merger Sub, Inc.
|
|
James Sottile | | | USA | | | Director; President, Treasurer and Secretary | |
Social Casino Peers
|
| |
2024 EV / EBITDA
|
| |||
DoubleDown Interactive Co., Ltd.
|
| | | | 1.6x | | |
Huuuge, Inc.
|
| | | | 3.2x | | |
Playstudios, Inc.
|
| | | | 8.7x | | |
Playtika Holding Corp.
|
| | | | 6.8x | | |
Acquiror
|
| |
Target
|
| |
Announcement Date
|
|
Sega Corporation | | |
Rovio Entertainment Oyj
|
| | 4/17/2023 | |
Savvy Games Group | | | Scopely, Inc. | | | 4/5/2023 | |
Playstudios Inc. | | | Brainium Studios | | | 10/13/2022 | |
Take-Two Interactive Software, Inc. | | | Zynga Inc. | | | 1/10/2022 | |
Scopely, Inc. | | | GSN Games | | | 10/18/2021 | |
Aristocrat Leisure Limited | | | Playtech plc | | | 10/18/2021 | |
Playtika Ltd. | | | Reworks Ltd. | | | 8/31/2021 | |
Netmarble Corp. | | | SpinX Games Ltd. | | | 8/2/2021 | |
Electronic Arts Inc. | | | Playdemic Ltd. | | | 6/23/2021 | |
Bally’s Corporation | | | Gamesys Group plc | | | 4/13/2021 | |
Electronic Arts Inc. | | | Glu Mobile LLC | | | 2/8/2021 | |
Embracer Group AB | | | Gearbox Software | | | 2/3/2021 | |
Zynga Inc. | | | Peak Games | | | 6/1/2020 | |
Stillfront Group | | | Storm8 Inc. | | | 1/21/2020 | |
| | |
Fiscal year ended December 31
|
| |||||||||||||||||||||||||||
($ in millions)
|
| |
2023E
|
| |
2024E
|
| |
2025E
|
| |
2026E
|
| |
2027E
|
| |||||||||||||||
Revenue | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Core
|
| | | $ | 738 | | | | | $ | 800 | | | | | $ | 856 | | | | | $ | 898 | | | | | $ | 925 | | |
New Games
|
| | | | 0 | | | | | | 12 | | | | | | 26 | | | | | | 39 | | | | | | 56 | | |
Alictus
|
| | | | 15 | | | | | | 22 | | | | | | 30 | | | | | | 38 | | | | | | 45 | | |
Total Revenue
|
| | | $ | 754 | | | | | $ | 833 | | | | | $ | 912 | | | | | $ | 975 | | | | | $ | 1,027 | | |
| | |
Fiscal year ended December 31
|
| |||||||||||||||||||||||||||
($ in millions)
|
| |
2023E
|
| |
2024E
|
| |
2025E
|
| |
2026E
|
| |
2027E
|
| |||||||||||||||
Adjusted EBITDA | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Core
|
| | | $ | 226 | | | | | $ | 254 | | | | | $ | 285 | | | | | $ | 305 | | | | | $ | 317 | | |
New Games
|
| | | | (6) | | | | | | (15) | | | | | | (11) | | | | | | (6) | | | | | | 4 | | |
Alictus
|
| | | | 0 | | | | | | 2 | | | | | | 5 | | | | | | 8 | | | | | | 10 | | |
Total Adjusted EBITDA
|
| | | $ | 220 | | | | | $ | 242 | | | | | $ | 278 | | | | | $ | 306 | | | | | $ | 332 | | |
Date
Announced |
| |
Acquiror
|
| |
Target
|
| |
EV / LTM
AEBITDA |
|
09/2021 | | | Scopely | | | GSN Games | | | 12.5x | |
08/2021 | | | Netmarble Corp. | | | Bole Games (SpinX Games) | | | 19.9x | |
11/2017 | | | Aristocrat Leisure Limited | | | Big Fish Games, Inc. | | | 11.9x | |
04/2017 | | | DoubleU Games | | |
DoubleDown Interactive Co., Ltd.
|
| | 10.5x | |
07/2016 | | |
Consortium (including Giant Investment (HK)
Limited) |
| | Playtika | | | 13.0x | |
11/2014 | | | Churchill Downs Inc. | | | Big Fish Games, Inc. | | | 8.5x | |
Non-Employee Director
|
| |
Number of
Director RSUs |
| |
Estimated Value of
Director RSUs |
| ||||||
Antonia Korsanos
|
| | | | — | | | | | $ | — | | |
Gerald D. Cohen
|
| | | | 7,494 | | | | | $ | 171,988 | | |
Nicholas Earl
|
| | | | 7,494 | | | | | $ | 171,988 | | |
April Henry
|
| | | | 7,494 | | | | | $ | 171,988 | | |
Michael Marchetti
|
| | | | 7,494 | | | | | $ | 171,988 | | |
Charles J. Prober
|
| | | | 7,494 | | | | | $ | 171,988 | | |
William C. Thompson, Jr.
|
| | | | 7,494 | | | | | $ | 171,988 | | |
Executive Officer
|
| |
Number of
Company RSUs(1) |
| |
Estimated Value
of Company RSUs(2) |
| |
Number of
Company PSUs |
| |
Estimated Value
of Company PSUs(3) |
| ||||||||||||
Joshua Wilson
|
| | | | 88,974 | | | | | $ | 2,041,954 | | | | | | 288,374 | | | | | $ | 6,618,184 | | |
Daniel O’Quinn
|
| | | | 8,999 | | | | | $ | 206,528 | | | | | | — | | | | | | — | | |
Description
|
| |
Amount
|
| |||
Financial advisory fees and expenses
|
| | | $ | [•] | | |
Legal, accounting and other professional fees and expenses
|
| | | $ | [•] | | |
SEC filing fees
|
| | | $ | [•] | | |
Printing and mailing costs
|
| | | $ | [•] | | |
Miscellaneous
|
| | | $ | [•] | | |
Total
|
| | | $ | [•] | | |
Fiscal Year
|
| |
High
|
| |
Low
|
| ||||||
Ended December 31, 2021 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 21.45 | | | | | $ | 14.50 | | |
Second Quarter
|
| | | $ | 19.05 | | | | | $ | 15.65 | | |
Third Quarter
|
| | | $ | 20.90 | | | | | $ | 15.36 | | |
Fourth Quarter
|
| | | $ | 21.99 | | | | | $ | 13.49 | | |
Ended December 31, 2022 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 13.56 | | | | | $ | 11.28 | | |
Second Quarter
|
| | | $ | 14.26 | | | | | $ | 11.28 | | |
Third Quarter
|
| | | $ | 13.97 | | | | | $ | 10.69 | | |
Fourth Quarter
|
| | | $ | 16.08 | | | | | $ | 11.79 | | |
Ended December 31, 2023 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 17.28 | | | | | $ | 15.45 | | |
Second Quarter
|
| | | $ | 19.68 | | | | | $ | 15.53 | | |
Fiscal Year
|
| |
Total Number
of Shares Purchased |
| |
Range of
Prices Paid per Share |
| |
Average
Price Paid per Share |
| ||||||
Ended December 31, 2021 | | | | | | | | | | | | | | | | |
First Quarter
|
| | | | — | | | |
—
|
| | | | — | | |
Second Quarter
|
| | | | — | | | |
—
|
| | | | — | | |
Third Quarter
|
| | | | — | | | |
—
|
| | | | — | | |
Fourth Quarter
|
| | | | — | | | |
—
|
| | | | — | | |
Fiscal Year
|
| |
Total Number
of Shares Purchased |
| |
Range of
Prices Paid per Share |
| |
Average
Price Paid per Share |
| ||||||
Ended December 31, 2022 | | | | | | | | | | | | | | | | |
First Quarter
|
| | | | — | | | |
—
|
| | | | — | | |
Second Quarter
|
| | | | 515,903 | | | |
$13.25 – $14.12
|
| | | $ | 13.76 | | |
Third Quarter
|
| | | | 867,512 | | | |
$10.88 – $14.08
|
| | | $ | 12.76 | | |
Fourth Quarter
|
| | | | 1,351,853 | | | |
$11.53 – $16.01
|
| | | $ | 14.04 | | |
Ended December 31, 2023 | | | | | | | | | | | | | | | | |
First Quarter
|
| | | | 507,029 | | | |
$15.42 – $16.87
|
| | | $ | 16.14 | | |
Second Quarter
|
| | | | 859,777 | | | |
$16.50 – $17.41
|
| | | $ | 17.07 | | |
| | |
Beneficial Ownership
|
| |||||||||||||||||||||||||||
Name and Address of Beneficial Owner
|
| |
Class A
Common Stock |
| |
Percentage
of Class A Common Stock |
| |
Class B
Common Stock |
| |
Percentage
of Class B Common Stock |
| |
Combined
Voting Power |
| |||||||||||||||
Antara Capital LP(1)
55 Hudson Yards, 47th Floor, Suite C New York, NY 10001 |
| | | | 3,233,448 | | | | | | 14.7% | | | | | | — | | | | | | — | | | | | | * | | |
Caledonia (Private) Investments Pty Limited(2)
Level 10, 131 Macquarie Street Sydney, NSW, 2000, Australia |
| | | | 1,419,098 | | | | | | 6.5% | | | | | | — | | | | | | — | | | | | | * | | |
Cowen Financial Products LLC(3)
599 Lexington Ave. New York, NY 10022 |
| | | | 1,551,246 | | | | | | 7.1% | | | | | | — | | | | | | — | | | | | | * | | |
Manulife Investment Management (US) LLC(4)
197 Clarendon Street Boston, Massachusetts 02116 |
| | | | 1,146,865 | | | | | | 5.2% | | | | | | — | | | | | | — | | | | | | * | | |
The Vanguard Group(5)
100 Vanguard Blvd. Malvern, PA 19355 |
| | | | 1,945,151 | | | | | | 8.9% | | | | | | — | | | | | | — | | | | | | * | | |
| | |
Beneficial Ownership
|
| |||||||||||||||||||||||||||
Name and Address of Beneficial Owner
|
| |
Class A
Common Stock |
| |
Percentage
of Class A Common Stock |
| |
Class B
Common Stock |
| |
Percentage
of Class B Common Stock |
| |
Combined
Voting Power |
| |||||||||||||||
GAMCO Investors. Inc.(6)
One Corporate Center Rye, New York 10580-1435 |
| | | | 1,204,292 | | | | | | 5.68% | | | | | | — | | | | | | — | | | | | | * | | |
Light & Wonder, Inc.(7)
6601 Bermuda Road Las Vegas, NV 89119 |
| | | | — | | | | | | * | | | | | | 103,547,021 | | | | | | 100 | | | | | | 97.9 | | |
| | |
Beneficial Ownership
|
| |||||||||||||||||||||||||||
Name of Beneficial Owner
|
| |
Class A
Common Stock(1) |
| |
Percentage
of Class A Common Stock(1) |
| |
Class B
Common Stock(1) |
| |
Percentage
of Class B Common Stock(1) |
| |
Combined
Voting Power(1) |
| |||||||||||||||
Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Antonia Korsanos
|
| | | | — | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Gerald D. Cohen
|
| | | | 35,937 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Nick Earl
|
| | | | 21,086 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
April Henry
|
| | | | 21,207 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Michael Marchetti
|
| | | | 61,388 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Charles “CJ” Prober
|
| | | | 21,207 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
William C. Thompson, Jr.
|
| | | | 36,981 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Named Executive Officers | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Joshua J. Wilson
|
| | | | 313,404 | | | | | | 1.47% | | | | | | — | | | | | | — | | | | | | * | | |
Daniel O’Quinn
|
| | | | 15,427 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
James Bombassei(2)
|
| | | | — | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
All Current Directors and Executive Officers as a Group (9 Persons)(3)
|
| | | | 526,637 | | | | | | 2.48% | | | | | | — | | | | | | — | | | | | | * | | |
| | |
Beneficial Ownership
|
| |||||||||||||||||||||||||||
Name of Beneficial Owner
|
| |
Class A
Common Stock(1) |
| |
Percentage
of Class A Common Stock(1) |
| |
Class B
Common Stock(1) |
| |
Percentage
of Class B Common Stock(1) |
| |
Combined
Voting Power(1) |
| |||||||||||||||
Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Jamie R. Odell
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Antonia Korsanos
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Hamish R. McLennan
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Stephen Morro
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Michael J. Regan
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Virginia E. Shanks
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Timothy Throsby
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Maria T. Vullo
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Kneeland C. Youngblood
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Named Executive Officers | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Matthew R. Wilson
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Barry Cottle(2)
|
| | | | 318,001 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
James Sottile
|
| | | | 9,250 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Patrick J. McHugh(3)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Siobhan Lane
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Constance P. James(4)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Oliver Chow
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
All Current Directors and Executive Officers as a Group (13 Persons)
|
| | | | 9,250 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
| | |
Beneficial Ownership
|
| |||||||||
Name of Beneficial Owner
|
| |
Shares of Parent Common Stock
Beneficially Owned(1) |
| |
Percentage of Total Outstanding Shares of
Parent Common Stock(1) |
| ||||||
Directors | | | | | | | | | | | | | |
Antonia Korsanos(2)
|
| | | | 688,104 | | | | | | * | | |
Gerald D. Cohen
|
| | | | — | | | | | | — | | |
Nick Earl
|
| | | | — | | | | | | — | | |
April Henry
|
| | | | — | | | | | | — | | |
Michael Marchetti
|
| | | | — | | | | | | — | | |
Charles “CJ” Prober
|
| | | | — | | | | | | — | | |
William C. Thompson, Jr.
|
| | | | — | | | | | | — | | |
Named Executive Officers | | | | | | | | | | | | | |
Joshua J. Wilson
|
| | | | 49,174 | | | | | | * | | |
Daniel O’Quinn
|
| | | | — | | | | | | — | | |
James Bombassei(3)
|
| | | | — | | | | | | — | | |
All Current Directors and Executive Officers as a Group (9 Persons)
|
| | | | 737,278 | | | | | | * | | |
|
Company Filings:
|
| |
Periods:
|
|
| Annual Report on Form 10-K | | | Fiscal Year ended December 31, 2022 | |
| Quarterly Report on Form 10-Q | | | Fiscal Quarter ended March 31, 2023 | |
| Quarterly Report on Form 10-Q | | | Fiscal Quarter ended June 30, 2023 | |
| | |
Page
|
| |||
ARTICLE I
|
| | | | | | |
DEFINITIONS
|
| | | | | | |
| | | | A-2 | | | |
ARTICLE II
|
| | | | | | |
THE MERGER
|
| | | | | | |
| | | | A-9 | | | |
| | | | A-9 | | | |
| | | | A-9 | | | |
| | | | A-9 | | | |
| | | | A-9 | | | |
| | | | A-9 | | | |
| | | | A-9 | | | |
ARTICLE III
|
| | | | | | |
EFFECT OF THE MERGER ON CAPITAL STOCK;
EXCHANGE OF CERTIFICATES; EQUITY AWARDS |
| | | | | | |
| | | | A-10 | | | |
| | | | A-11 | | | |
| | | | A-13 | | | |
| | | | A-13 | | | |
| | | | A-14 | | | |
| | | | A-14 | | | |
| | | | A-15 | | | |
| | | | A-15 | | | |
ARTICLE IV
|
| | | | | | |
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
|
| | | | | | |
| | | | A-15 | | | |
| | | | A-15 | | | |
| | | | A-16 | | | |
| | | | A-17 | | | |
| | | | A-17 | | | |
| | | | A-17 | | | |
| | | | A-17 | | | |
| | | | A-17 | | | |
| | | | A-18 | | | |
| | | | A-18 | | | |
ARTICLE V
|
| | | | | | |
REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB
|
| | | | | | |
| | | | A-18 | | | |
| | | | A-18 | | | |
| | | | A-18 | | | |
| | | | A-18 | | |
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Page
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| |||
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-20 | | | |
| | | | A-20 | | | |
| | | | A-20 | | | |
ARTICLE VI
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| | | | | | |
COVENANTS AND AGREEMENTS
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| | | | | | |
| | | | A-20 | | | |
| | | | A-22 | | | |
| | | | A-22 | | | |
| | | | A-24 | | | |
| | | | A-25 | | | |
| | | | A-25 | | | |
| | | | A-26 | | | |
| | | | A-28 | | | |
| | | | A-29 | | | |
| | | | A-30 | | | |
| | | | A-30 | | | |
| | | | A-30 | | | |
| | | | A-31 | | | |
| | | | A-31 | | | |
| | | | A-31 | | | |
| | | | A-31 | | | |
ARTICLE VII
|
| | | | | | |
CONDITIONS TO THE MERGER
|
| | | | | | |
| | | | A-32 | | | |
| | | | A-32 | | | |
| | | | A-33 | | | |
| | | | A-33 | | | |
ARTICLE VIII
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| | |||||
TERMINATION, AMENDMENT AND WAIVER
|
| | | | | | |
| | | | A-33 | | | |
| | | | A-34 | | | |
| | | | A-34 | | | |
| | | | A-34 | | | |
| | | | A-35 | | | |
ARTICLE IX
|
| | | | | | |
GENERAL PROVISIONS
|
| | | | | | |
| | | | A-35 | | | |
| | | | A-35 | | | |
| | | | A-36 | | |
| | |
Page
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| |||
| | | | A-37 | | | |
| | | | A-37 | | | |
| | | | A-38 | | | |
| | | | A-38 | | | |
| | | | A-38 | | | |
| | | | A-38 | | | |
| | | | A-39 | | | |
| | | | A-39 | | | |
| | | | A-39 | | | |
| | | | A-40 | | | |
| | | | A-40 | | |
| | | | | |
| | | | |
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125 West 55th Street
New York, NY 10019 |
| |
Telephone
(212) 231-1000
Tollfree
(800) 648-2878
Facsimile
(212) 231-1717
Internet
www.macquarie.com
|
|
EX-FILING FEES
CALCULATION OF FILING FEE TABLES
Schedule 14C
(Form Type)
SciPlay Corporation
(Exact Name of Registrant as Specified in its Charter)
Table 1: Transaction Valuation
Proposed Maximum Aggregate Value of Transaction | Fee rate | Amount of Filing Fee | ||||||||||
Fees to be Paid | $ | 489,164,722.65 | (1) | 0.00011020 | $ | 53,905.95 | (2) | |||||
Fees Previously Paid | $ | 0 | $ | 0 | ||||||||
Total Transaction Valuation | $ | 489,164,722.65 | ||||||||||
Total Fees Due for Filing | $ | 53,905.95 | ||||||||||
Total Fees Previously Paid | $ | 0 | ||||||||||
Total Fee Offsets | $ | 0 | ||||||||||
Net Fee Due | $ | 53,905.95 |
(1) | Solely for the purpose of calculating the filing fee, the aggregate value of the transaction was calculated by multiplying 21,314,367, which is the number of shares of SciPlay Corporation Class A common stock, par value $0.001 per share (the “Class A Common Stock”), entitled to receive the per share merger consideration, by $22.95, which is the per share merger consideration. The number of shares of Class A Common Stock included in the calculation includes 44,964 shares of Class A Common Stock underlying outstanding non-employee director restricted stock units entitled to receive the per share merger consideration. |
(2) | The amount of the filing fee, calculated in accordance with Rule 0-11 of the Exchange Act, was calculated by multiplying $489,164,722.65 by 0.00011020. |
Table 2: Fee Offset Claims and Sources
Registrant or Filer Name | Form or Filing Type | File Number | Initial Filing Date | Filing Date | Fee Offset Claimed | Fee Paid with Fee Offset Source |
||||||||||||||||||||
Fee Offset Claims | — | — | — | — | — | |||||||||||||||||||||
Fee Offset Sources | — | — | — | — | — |