RightBridge Ventures completes the acquisition of 80 per cent of the shares in Tricked Esport ApS

Rightbridge Ventures Group AB (“RightBridge Ventures” or the “Company”) has today completed the acquisition of 80 per cent of the shares in Tricked Esport ApS ("Tricked”) (the “Transaction”) that was announced on 7 November 2022. As consideration for the shares in Tricked, the Company’s board of directors will resolve on a directed issue of 27,626,666 new ordinary shares to the shareholders of Tricked, EMLIKA ApS, Nebbegård Invest A/S and JV Equity A/S (the “Sellers”) at a subscription price of SEK 1.50 per ordinary share (the “Consideration Share Issue”). Due to administration reasons, the Consideration Share Issue is expected to take place during next week. 

On 7 November 2022, the Company disclosed that it had entered into a share purchase agreement to acquire 80 per cent of the shares in Tricked for a purchase price of SEK 41,400,000. The purchase price will be paid by way of an issue of 27,626,666 new ordinary shares in the Company. The Consideration Share Issue will be resolved by the Company’s board of directors under its authorization to issue new shares that was granted at the extraordinary general meeting on 29 September 2022. Due to administration reasons, the Consideration Share Issue is expected to take place during next week and will be confirmed through a separate press release.

The subscription price to be applied in the Consideration Share Issue has been negotiated on arm’s length and is, according to the board of directors of the Company, considered favorable for the Company and its shareholders. The subscription price constitutes 1,50 per share. The reason for the deviation from the shareholders pre-emption rights is to finalise the acquisition of shares in Tricked pursuant to the share purchase agreement entered, which is in line with the Company’s growth strategy. Furthermore, the Company is required to issue shares to the Sellers to fulfill its obligation pursuant to the share purchase agreement.

When the Consideration Share Issue has been executed it will entail a dilution of approximately 17.72 per cent of the number of shares and votes in the Company. Through the Consideration Share Issue, the number of shares and votes in the Company will increase by 27,626,666 ordinary shares from 128,316,734 to 155,943,400. The share capital will increase by SEK 3,313,656.31 from SEK 15,390,838.5103 to SEK 18,704,494.82.

In connection with the Consideration Share Issue, the Sellers have undertaken not to, subject to customary exceptions, divest any shares in the Company for a lock-up period of one year. When the Consideration Share Issue has been executed, the Sellers will hold 17.72 per cent of the shares and votes in the Company.

"We are pleased that we have now completed the acquisition of Tricked and that we can now realize the synergies we have identified through the process of the Transaction. RightBridge Ventures welcomes the competent Tricked team and the exciting community and customers that shape Tricked’s ecosystem. In addition, we create good conditions to scale up sales and presence for Tricked education services in Sweden, Brazil or UK " – Carlos Barrios, CEO RightBridge Ventures Group AB

About Tricked
Tricked is a Danish esports competitive and education organisation with over 50 employees providing esport training subscription services through three gaming centres, as well as online and on-site, to approximately 20 primary, secondary and vocational public and private schools across Denmark. Since its inception, Tricked, has brought the values of sportsmanship, discipline and respect to thousands of gamers.

Tricked`s competitive teams are among the top professional esports teams in Scandinavia, and their subscription-based coaching and education services operations are the largest of its kind in Denmark.

Despite Tricked being headquartered in Denmark, its reach is global. Thanks to the popularity of their competitive teams across major titles such as League of Legends, CS:GO (Top 50 worldwide and top 8 among all missions ("HLTV maps")), Fortnite and FIFA (two time World Champions), the Transaction, in addition to the thousands of gamers that have gone through Tricked educational and coaching programs and events, Tricked  contributes with a highly scalable subscription model and a consumer reach of ca. 14 millions

The fast growth and online reach of Tricked's system is mainly because of the high degree of automatization of their members management system, which is based on Amazon Web Services and Microsoft. Tricked is a Microsoft EDUCATION partner, which is unique in the esport category. In addition, Tricked has recently engaged in a partnership with the town of Copenhagen to educate unemployed individuals and assist them to re-enter the labour market through esports and gaming.

Forward-looking statements

This press release contains forward-looking statements that reflect the Company’s intentions, beliefs, or current expectations about and targets for the Company’s future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “may”, “plan”, “estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertakes to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is not required by law or Nasdaq First North Growth Market’s rulebook for issuers.

For further questions, please contact:

Carlos Barrios - CEO RightBridge Ventures Group AB  
Telefon: +46 705 112579
E-post: carlos.barrios@rightbridge.se

RightBridge Ventures is a compounder and investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital media and entertainment industry. For more information visit www.rightbridge.se or get updates by following us on Twitter on Instagram and LinkedIn.

RightBridge Ventures Group AB (publ)'s shares are traded on the Nasdaq First North Growth Market and Amudova AB is a Certified Adviser.