Intends to carry out a guaranteed rights issue of SEK 100 million
Scout Gaming Group AB, “company” or “SGG” informs that the board of directors have taken the decision to call for an Extra General Meeting and make a proposal for a rights issue at the level of SEK 100 million. The share issue will be fully guaranteed by commitments from the shareholders Knutsson Holdings AB, Novobis AB, Scobie Ward and TopLine Capital LLC.
The funds from the share issue will in part be used to repay the bridge financing amounting to SEK 40 million which the company has press released today and on May 29th of this year and in part concerning other measures which the company in separate press releases has informed about today, to create prerequisites for the company’s operations in the future. The proposal of the share issue is that it will be performed at the level of 0.50 SEK per share and will entail about 200 000 000 new shares with a dilution of around 90%.
Niklas Braathen, Chairman of the Board in Scout Gaming Group AB, comments; "We are within SGG conducting a comprehensive restructuring, including organizational measures in parallel a review of the company's business models and strategy, and the upcoming capital raising, which is absolutely crucial for the future of the company. We feel great respect and gratitude for our major shareholders who guarantee the issue and thus show their confidence in Scout Gaming Group. It is the task of the organization to ensure this is the company's last defensive capital raising and to show we can stand on our own two feet and live on our own merits. "
For additional information, please contact:
Niklas Braathen, Chairman of the Board
Phone: +46 705 25 27 77
E-mail: niklas@erlinghundra.se
Niklas Jönsson, CFO and acting CEO
Phone: +46 725 49 41 73
E-mail: niklas.jonsson@scoutgaminggroup.com
About Scout Gaming Group
Scout Gaming Group AB (publ) is a licensed and regulated full range supplier within Fantasy Sports. The company offers a flexible and customizable network-based service with support for most sports and leagues. The Group is headquartered in Stockholm, Sweden with development and operations in Bergen, Norway and Lviv, Ukraine. Sales, support and product development is handled by the office in Malta. For more information about the company, please visit scoutgaminggroup.com. Scout Gaming Group AB (publ) is listed on Nasdaq First North Growth Market and the Certified Adviser is Redeye AB. Contact details: Certifiedadviser@redeye.se, +46 (0)8 121 576 90.
This information is information that Scout Gaming Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:02 CET on June 30 2022.