Rightbridge Ventures - Negotiations with the Bank Reduce Loan Repayment for the Raketspel Transaction to SEK 20 Million Instead of SEK 44.5 Million
Stockholm, January 13, 2025 – Rightbridge Venture Group AB (“Rightbridge”) announced today that it has successfully reached an agreement with the bank, significantly reducing the financial burden associated with the acquisition of Raketspel Interaktiva Produktioner AB (“Raketspel”). As a result of these negotiations, Rightbridge will not take over the full loan amount of SEK 44.5 million. Instead, the bank has agreed to reduce the repayment amount to only SEK 20 million. Rightbridge has until March 31, 2025, to complete the payment to finalize the acquisition of Raketspel
In the transaction regarding the acquisition of Raketspel Innovativa Produkter AB, announced on October 29, 2024, it was stated that the transaction was conditional on Rightbridge Ventures assuming the SEK 44.5 million loan from Safe Lane Gaming. Following negotiations with the bank, Rightbridge has agreed on a repayment amount of SEK 20 million, payable upon completion of the transaction, while the remaining SEK 24.5 million will be written off. The remaining SEK 20 million must be repaid by March 31, 2025, to finalize the transaction.
This agreement represents a significant reduction in transaction costs for Rightbridge related to the acquisition of Raketspel and strengthens the company’s position for the continued integration of Raketspel.
In connection with this, the structure of the promissory note to Safe Lane Gaming has also been revised. The original agreement stipulated a promissory note of SEK 19.5 million, payable in shares or cash to Safe Lane Gaming. The new terms are for a convertible promissory note, which will be paid in shares over the next three years, with one-third settled at each interval (12, 24, and 36 months from the transaction date). This will be at a price corresponding to the lower of the following: the 20-day volume-weighted average price before the exercise date or the price per share from the most recent market-based issue conducted within 90 days before the exercise.
“This is very positive news for Rightbridge. By reducing our initial costs, we free up capital to focus on accelerating growth and creating value in our new business unit. The focus now is on capital raising to complete the acquisition,” says Claes Kalborg, CEO of Rightbridge Venture Group AB.
For further information, contact:
Claes Kalborg, CEO, Rightbridge Ventures Group
Phone: +46 73 444 55 07
Email: Claes.Kalborg@rightbridge.se
Mads Jörgensen, Chairman of the Board
Phone: +45 28 97 15 75
Email: mvj@bluehorizoninvestment.com
About Rightbridge
RightBridge Ventures is an investment company based in Stockholm (Sweden), focusing on investing in companies shaping the future of esports and gaming as part of the digital media and entertainment industry. For more information, visit www.rightbridge.se or follow us on LinkedIn for updates. RightBridge Ventures Group AB (publ) shares are traded on the Nasdaq First North Growth Market, and the company’s certified adviser is Corpura Fondkommission AB.
Disclosure
This information is information that RightBridge Ventures Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person mentioned above, on January 13, 2025, at 08:50 CET.