09:14 AM EDT, 05/14/2024 (MT Newswires) -- PlayAGS ( AGS ) investor Emmett Investment Management said Tuesday that it intends to vote against what it called was the company's "inadequate" proposed take-private deal with Brightstar Capital Partners.

In an open letter to the company's stockholders, Emmett said the deal is not in the best interest of shareholders as they are being asked to accept a bid from Brightstar that "offers effectively zero - or negative - premium."

Emmett said it believes that the company's shares would be trading higher than the current market price if market participants had been given the opportunity to digest Q1 results absent Brightstar's offer.

PlayAGS ( AGS ) didn't immediately respond to a request for comment from MT Newswires.

Price: 11.50, Change: +0.09, Percent Change: +0.77