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Following the company announcement on 13 June 2023, the Board of Directors of Nitro Games Oyj (“Nitro Games” or the “Company”) has today decided on arranging a rights issue totalling approximately EUR 6.6 million (the “Offering”). The Finnish Financial Supervisory Authority has today approved Nitro Games’ EU growth prospectus. The Offering consists of a maximum of 19,354,653 new shares. The subscription price in the Offering is SEK 4.00 or EUR 0.34 per share.
- Approximately EUR 6.6 million before transaction costs is expected to be raised in the Offering if fully subscribed.
- The subscription price in the Offering is SEK 4.00 per share or EUR 0.34 per share.
- For each (1) existing share held on the record date, one (1) subscription right is obtained in the Offering. Two (2) subscription rights entitle the holder to subscribe for three (3) new shares.
- The subscription period in the Offering commences on 12 July, and ends on 26 July 2023 in Sweden and 28 July 2023 in Finland.
- The Offering is secured to 60.0 per cent through subscription commitments of approximately EUR 1.5 million and underwriting commitments of approximately EUR 2.5 million.
- The record date for the Offering is 7 July 2023. The last day of trading including subscription rights is on 5 July 2023 and the first day of trading excluding subscription rights is on 6 July 2023.
Subscription locations of the Offering
The following function as subscription locations:
- In Finland, custodians, and account operators and
- In Sweden, Aqurat Fondkommission AB’s website at https://www.aqurat.se/ and Aqurat Fondkommission AB’s premises at Kungsgatan 58, 111 22 Stockholm, Sweden (firstname.lastname@example.org, tel. +46 8-684 05 800)
Subscriptions in Sweden are also received by custodians and account operators who have an agreement with Aqurat Fondkommission AB regarding the reception of subscriptions.
EU growth prospectus
Nitro Games has prepared an EU growth prospectus relating to the Offering approved by the Finnish Financial Supervisory Authority on 5 July 2023. The EU growth prospectus will be available on Nitro Games’ website (https://www.nitrogames.com/investors/), on the website of Augment Partners AB (https://offers.augment.se/) and on the website of Aqurat Fondkommission AB (https://www.aqurat.se/).
Indicative timetable for the Offering
|5 July 2023||Last day of trading including subscription rights|
|6 July 2023||First day of trading excluding subscription rights|
|7 July 2023||Record date for the Offering|
|12 July – 21 July 2023||Trading in subscription rights on First North Growth Market Sweden|
|12 July – 26 July 2023||Subscription period in Sweden|
|12 July – 28 July 2023||Subscription period in Finland|
|12 July 2023 until the date of registration at the Finnish Trade Register||Trading in interim shares (BTA)|
|1 August 2023||Estimated date for announcement of the outcome|
Augment Partners AB is acting as the financial advisor and Smartius Oy is acting as the legal advisor in the transaction.
For more information:
Jussi Tähtinen, CEO & Co-Founder
Phone: +358 44 388 1071
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Nitro Games.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Finnish or Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.
Nitro Games in brief:
Nitro Games is a mobile game developer and publisher. Nitro Games team is a multinational group of mobile gaming professionals with expertise from development to publishing to live operations. The Company focuses on producing high-quality mobile games mostly for the mid-core audience. Nitro Games is specialized in the category of shooter games. With Nitro Games’ powerful NG Platform and the NG MVP process, the Company is able to carry out market validation with its games during development. Nitro Games has developed several games such as Autogun Heroes, NERF: Superblast, Lootland, Heroes of Warland, Medals of War, Raids of Glory. The company offers its services also to selected customers and has developed several successful projects to leading mobile gaming companies.
Nitro Games’ shares are listed on Nasdaq First North Growth Market with the ticker NITRO. The Certified Adviser is FNCA Sweden AB, email@example.com.
Finnish Business ID: FI21348196
- Aug 01
- Jun 13