Starbreeze completes a directed share issue of 20,681,797 new Class B shares, raising gross proceeds of SEK 238 million

25 January 2018 /

THE INFORMATION IN THIS PRESS RELEASE MAY NOT BE ANNOUNCED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, UNITED STATES, OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, PUBLICATION OR DISTRIBUTION OF THE INFORMATION WOULD NOT COMPLY WITH OR REQUIRE REGISTRATION UNDER APPLICABLE LAWS AND REGULATIONS.

STOCKHOLM (25 January 2018) Starbreeze AB (publ) (”Starbreeze” or the ”Company”) has, based on the authorization granted by the Annual General Meeting on 11 May 2017 and in accordance with what the Company indicated in a press release on 24 January 2018 at 17:31 CET, resolved to carry out a directed share issue of 20,681,797 new Class B shares at a subscription price of SEK 11.52 per share, which is the same as the closing price on 24 January 2018. The subscription price corresponds to a premium of 13 percent compared with the volume weighted average price of the Starbreeze share during the last 30 trading days. The subscription price has been determined through an accelerated book-building procedure. In addition, the Board of Directors of Starbreeze intends to offer existing shareholders the opportunity to participate in a rights issue of approximately SEK 150 million during the first half of 2018, subject to the subsequent approval of a general meeting of shareholders.

A number of Swedish and international institutional investors, including Swedbank Robur Fonder and Första AP-fonden, have subscribed for shares in the directed share issue. The Board of Directors made the decision to waive shareholders’ preferential rights to ensure the Company’s capacity to secure the Company’s capital requirement for the business in a timely and cost-effective manner. Through the share issue, Starbreeze will raise approximately SEK 238 million before transaction expenses.

After the share issue, the total number of shares in the Company will be 303,719,737 (distributed between 55,146,615 Class A shares and 248,573,122 Class B shares). The share issue entails a dilutive effect of approximately 6.8 percent based on the total number of shares in Starbreeze at the time of the share issue.

The Company intends to use the net proceeds from the directed share issue and the planned rights issue to ensure the financing of the existing business plan until the release of OVERKILL’s The Walking Dead, scheduled for the fall of 2018, and to leverage business opportunities to accelerate growth and broaden the revenue base within the core business.

Carnegie Investment Bank AB is acting as financial adviser to Starbreeze and Advokatfirman Lindahl is Starbreeze legal adviser.

See previous press release: https://www.starbreeze.com/2018/01/starbreeze-intends-to-carry-out-a-directed-share-issue-for-continued-expansion-and-high-power-release-of-overkills-the-walking-dead/

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For more information, please contact:

Ann Charlotte Svensson, Head of Investor Relations and Corporate Communications

Tel: +46(0)8-209 208, email: ir@starbreeze.com 

This information is information that Starbreeze AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 07:00 CET on 25 January 2018.

About Starbreeze

Starbreeze is a global game company whose vision is to be a leading provider in the entertainment industry by creating world-class experiences. Starbreeze was founded in 1998 and has since evolved into a well-established developer and publisher of PC and console games and VR products aimed at the global market. With studios in Stockholm, Paris, Los Angeles, Barcelona, Brussels and India, Starbreeze develops high-quality entertainment products based on proprietary and third-party rights, both in-house and in partnership with external game developers. Operations are organized in three business areas: Starbreeze Games, Publishing and VR Tech & Operations. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN codes SE0007158928 (A share) and SE0005992831 (B share). For more information, please visit starbreeze.com

Important information

The release, publication or distribution of this press release may in certain jurisdictions be subject to restriction by law, and persons in the jurisdictions where this press release has been published or distributed should ascertain and comply with such legal restrictions. This press release does not contain or constitute a solicitation or offer to acquire or subscribe for any securities in Starbreeze in any jurisdiction.

This press release does not constitute an offer to purchase securities in the United States. The securities referred to herein may not be sold in the United States without registration under the US Securities Act of 1933, as amended, or without reliance upon an exemption from such registration. The information in this press release may not be announced, published or distributed, directly or indirectly, in Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, South Korea, United States, or in any other jurisdiction where the release, publication or distribution of the information would not comply with applicable laws and regulations.

This press release is not a prospectus. Starbreeze has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus or other offering document has been or will be prepared in connection with the directed share issue.


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