By issuing a market filing, Scout Gaming AB, listed in Stockholm, confirms that it has raised SEK 36 million (€ 3.5 million) in working capital after completing two direct placements selling around 3 million company shares.
At the AGM of the Swedish company on 23 May 2019, Scout Governance had been granted rights to approve the deal.
The two share investments were issued directly to Scout investors Tekkorp Holding (transaction 1.3 m shares) and US-based institutional investor Topline Capital (1.6 m shares) to take part in an’ accelerated book-building procedure.’
Scout estimates that its two placements were valued at SEK 12 per share, reflecting a 10 per cent discount on the index price weighted by the company Nasdaq First North.
Nordic investment bank ABG Sundal Collier secured a deal for the client. According to agreements entered into between ABG Sundal Collier and investors, the shares will be transferred to new and existing shareholders in the company.
“Scout Gaming is undergoing an intensive launch phase where we accelerated our growth during the second half of 2019,” said Scout Gaming CEO Andreas Ternström. “We have been approached by strategic investors who are important to the company and are pleased to be able to execute this transaction. With the transactions, we have financial flexibility and room for strong growth over the next years.”