Nitro Games Oyj
Nitro Games completes a directed new share issue of 500,000 shares, raising SEK 25 million (Cision)

2017-10-18 08:00
Nitro Games Oyj (“Nitro Games” or the “Company”) has, based on the authorization given by Nitro Games’ Annual General Meeting on 24 March 2017, resolved to carry out a directed new shares issue of 500,000 shares at subscription price of SEK 50 per share (the “Directed new share issue”). Through the Directed new share issue, Nitro Games will receive SEK 25 million. The subscription price in the Directed new share issue has been set to a premium to the current market price, SEK 50 per share. Subscribers in the Directed new share issue is a limited number of new institutional and professional investors including among others Swedbank Robur Ny Teknik and equity fund Calgus, and existing shareholders Feat Invest AB, Johan Biehl, Savox Investments and Jacob Ehrnrooth. 
Jussi Tähtinen, CEO of Nitro Games: “I am happy to welcome Swedbank Robur Ny Teknik, equity fund Calgus and a handful of new professional investors as shareholders in our company. We are building our self-publishing capabilities and have recently launched our first big self-published game “Medals of War” that has already been featured in the Apple App Store and receiving great reviews. This capital increase supports our strategy and enables us to accelerate growth further, as we seek to continue our work with “Medals of War” and introduce new games to the market.” · Swedbank Robur Ny Teknik is the largest investor in the transaction subscribing for 225,000 shares amounting to SEK 11.25 million representing 9,66% of the capital and votes of the Company post the Directed new share issue. · Other new institutional and professional investors in the Directed new share issue include the equity fund Calgus and Patrick Bergström, and existing shareholders Feat Invest AB, Johan Biehl, Savox Investments and Jacob Ehrnrooth. · Based on the closing price of October 17, the issue price of SEK 50 per share represents a premium of 6,4 percent. Compared to a 10-day volume weighted average price, the subscription price represents a premium of 2,4 percent.   · The Company will receive a total of SEK 25 million. · The reason for deviation from the shareholders’ pre-emptive rights for the Directed new share issue is to increase and broaden the shareholder base with qualified and long-term investors and also in a cost-effective and timely manner raise capital to improve Company’s financial position and to enable the further development and growth of the Company’s business. · The Board is of the opinion that the Directed new share issue will be of benefit to the Company and therefore to all its shareholders. · For existing shareholders, the Directed new share issue will result in a dilution of approximately 21.47%. · The Directed new share issue increases the total number of shares from 1 829 328 to 2 329 328. Redeye Aktiebolag has acted as financial adviser in the transaction and Smartius has acted as legal adviser.

Nitro Games - I dag

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