Stillfront Group AB (publ) today announced that the company has completed a directed new share issue of 2,080,732 shares. The subscription price was SEK 240.40 per share, thus raising proceeds of approximately SEK 500 million, before transaction related expenses. The subscription price in the issue has been determined through an accelerated bookbuilding procedure.
The purpose of the Share Issue is to provide the Company with additional equity capital in a quick and efficient manner in order to further strengthen Stillfront’s future financial flexibility in line with the Company’s communicated financial targets. The additional equity capital improves the Company’s key performance indicators while enabling the Company to utilise on opportunities for continued profitable growth through acquisitions.
Stillfront is a global group of gaming studios and a market leader in the free-to-play online strategy games genre. Our diverse and exciting games portfolio has two common themes; loyal users and long lifecycle games. Organic growth and carefully selected and executed acquisitions embody our growth strategy and our 600 co-workers thrive in an organisation that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and UK. We are headquartered in Stockholm, Sweden and the company is listed on Nasdaq First North Premier.
Carnegie acted as joint global co-ordinator and joint bookrunner.