B2B Daily Fantasy Sports provider Scout Gaming Group has completed two direct share investments in which the company has received an estimated £ 6.5 million (SEK75 million) and more than three million new shares.
In total , the company issued 1,835,062 shares through an accelerated process of ‘book building,’ which calculated around SEK45 m.
In addition , the second issue of the company’s second share was through US-based institutional investor Topline Capital Partners Ltd, totalling 1,200,000 shares and SEK30 m, both values were estimated prior to transaction costs.
Scout Gaming CEO Andreas Ternström stated: “Scout Gaming is in an intensive growth phase establishing the DFS vertical globally. We are at the same time launching many new products and markets, just recently esport had a warm welcome.
“I’m sure that we through this placing can capture additional market possibilities to accelerate the growth even more rapidly. I’m very pleased to attract both new and existing institutional investors as well as sector specialists.”
After both share issues have been registered, Scout Gaming ‘s total number of shares will be just over 20.5 m. Additionally, share capital of the company will increase to SEK1.09 m by about SEK160,000.
In compliance with agreements entered into between ABG Sundal Collier and the actual owners, the shares will be transferred to the company’s new and current shareholders.
Scout Gaming has appointed ABG Sundal Collier as Sole Lead Manager and Bookrunner and Advokatfirman Delphi as legal counsel regarding the recent Share Issue.
Scout Gaming, a Swedish based company , offers a customisable network-based Fantasy Sports solution via an in-house StatCenter that provides players with real-time information.
Scout Gaming Group completes directed share issues and receives proceeds of approximately SEK 75 million.
Whole press release here: https://t.co/4YfqmHihRZ#pressrelease #scoutgg pic.twitter.com/8ITngHwIE8
— Scout Gaming Group (@scoutggroup) July 17, 2020