SCOUT GAMING CONDUCTS TWO DIRECTED SHARE ISSUES AND RECEIVES PROCEEDS OF APPROXIMATELY SEK 27 MILLION
Scout Gaming Group AB (publ) (”Scout” or the “Company”) today announces that the Company has successfully completed two directed share issues of approximately MSEK 27 corresponding to approximately 1.3 million shares in the Company.
The board of directors of Scout Gaming Group AB (publ) (”Scout”) or (”the Company”) has, based on a authorization granted by the annual general meeting on 23 May 2019, resolved on a Private Placement through a so called accelerated “book building”-procedure of 818,871 shares (the “Private Placement”) and an additional directed share issue to Tekkorp Holding LCC in its capacity as external investor of 431,129 shares (the “Directed Share Issue”). Through the Private Placement the Company will receive proceeds of approximately SEK 17.6 million before transaction costs and through the Directed Share Issue proceeds of approximately SEK 9.3 million before transactions cost, equal to a total amount of approximately SEK 27 million. The subscription price in the Private Placement has been set to SEK 21.51 per share through a so called accelerated ”book building”-procedure, which corresponds to a discount of 10 percent compared to the last closing price of the Company’s share on Nasdaq First North Stockholm. The subscription price in the Directed Share Issue has been set at the same rate as in the Private Placement. The Private Placement was directed to Swedish and International institutional investors. In order to facilitate the Private Placement, the new shares were initially subscribed for by ABG Sundal Collier AB for an amount corresponding to the shares’ quota value. The shares will then be transferred to new and current shareholders of the Company in accordance with an agreement entered into between ABG Sundal Collier AB and the actual investors. The current shareholders who have decided to participate and receive shares in the Private Placement are Swedbank Robur Fonder AB, Provobis Invest AB and Knutsson Holding AB, and in addition a number of foreign and institutional investors have subscribed for shares in the Private Placement. In connection with payment from the investors in the Private Placement, which is expected to occur around the 4 July 2019, the Company will be added the remaining amount, i.e. the difference between the quota value and the price in the Private Placement.
The reason for the deviation from the shareholders’ preferential rights is mainly to raise capital in a time- and cost efficient manner. Through the Private Placement and the Directed Share Issue, Scout’s product offering can be further strengthen and the geographical expansion continue.
After the registration of the Private Placement and the Directed Share Issue, the total number of shares in the Company will amount to 14,533,455 shares. The Company’s share capital will increase with approximately SEK 65,789.47 to SEK 764,918.68. The Private Placement and the Directed Share Issue entails a dilution of approximately 8.6 percent of the number of shares in Scout after the Private Placement and the Directed Share Issue.
In connection with the Private Placement and the Directed Share Issue, the Company has appointed ABG Sundal Collier as Sole Lead Manager and Bookrunner and Advokatfirman Delphi as legal counsel.
For further information, please contact:
Andreas Ternström, CEO, on tel +46 706 770 660
Billy Degerfeldt, CFO and investor relations, on tel +46 707581 668
Scout Gaming Group is listed on Nasdaq First North
The Certified Adviser is Redeye AB, tel +46 8 545 013 49
This constitutes information that Scout Gaming Group (publ) is legally obliged to publish under the EU’s Market Abuse Regulation. The information was released for publication, through the agency of the contact persons above, on 28 June 2019 at 08:00 a.m. CEST.
About Scout Gaming Group AB
Scout Gaming Group is a licensed and regulated B2B fantasy sports provider and betting provider. The Company offers a flexible and adaptive network based Fantasy Sports solution with support for most sports and game formats. The group company has approximately 70 employees and is headquarted in Stockholm, Sweden with development and operations in Bergen, Norway, and Lviv, Ukraine. Sales, support and product development is managed from the office on Malta. For more information regarding the Company, please visit: www.scoutgaminggroup.com.
Important information
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in Scout Gaming Group AB (publ) in any jurisdiction, from Scout Gaming Group AB (publ), ABG Sundal Collier AB or any other entity. The information in this press release will not and may not be copied, published or distributed, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, Switzerland, South Korea the United States or in any other jurisdiction where such distribution would be illegal or would be subject to registration other measures. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction.
This press release does not constitute an offer to acquire securities in the United States. The securities referenced here have not and will not be registered in accordance with the Securities Act of 1933 (“Securities Act”), and may not be offered or sold in the United States absent registration, an exemption from registration, or unless they are part to a transaction which is not subject to registration from the Securities Act. There will be no public offering in the United States to acquire the shares referenced here.
This press release does not constitute a recommendation for any investors’ decision regarding the rights issue. Each investor or potential investor should conduct its own investigation, analysis and evaluation of the business and information described in this press release and any publicly available information. The price and value of the securities can decrease as well as increase. Previously achieved results do not provide guidance for future results.
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Scout Gaming Group have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in Scout Gaming Group may decline and investors could lose all or part of their investment; the shares in Scout Gaming Group offer no guaranteed income and no capital protection; and an investment in the shares in Scout Gaming Group is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Share Issue.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Scout Gaming Group.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Scout Gaming Group and determining appropriate distribution channels.
Tags: