STOCKHOLM (February 19, 2020) – As a part of the financing of the business, Starbreeze AB has today carried out a directed share issue of 32 936 784 class A shares, to a subscription price of SEK 1.557, which is equivalent to the volume weighted average share price for the class A share on February 18, 2020. The Directed Share Issue was agreed upon with support from the authorisation by the Annual General Meeting on June 4, 2019. The main subscribers in the Directed Share Issue are several well-reputed, Swedish institutional investors, Swedbank Robur, the First AP fund and the Fourth AP fund.
The net proceeds of SEK 51.3 million received by the Company is in its entirety subject to be used only for operations in New Starbreeze Publishing AB, and not to pay the Company’s outstanding debt. That the share issue consists of only A shares is a condition from the institutional investors.
“This share issue is an important part of the company’s execution of the Reorganisation Plan and a part of the financing of the operations. We see it as a positive confirmation of our actions,” says Torgny Hellström, Chairman of the Board of Directors.
The reason for the deviation from the shareholders’ preferential rights is to in a time- and cost-efficient way raise capital on for Starbreeze attractive terms in accordance with the reorganization plan, which is expected to promote the Company’s long-term stability. The net proceeds from the Directed Share Issue is intended to be used solely for the Company’s operations – to create games with PAYDAY 3 in focus.
The 32 936 784 class A shares issued in the directed share issue will after the transaction represent 9.1 % of the share capital and 29.0% of the voting rights. After the Directed Share Issue, the total number of shares in the Company is going to amount to 362 304 633 shares, of which 85 783 735 are A shares and 276 520 898 B shares. The Directed Share Issue results in a dilution of approximately 9.0 percent, based on the total number of shares, and approximately 29.0 percent of the total number of votes, in Starbreeze at the time of the issue. The share capital will increase by SEK 658 735,68 from approximately SEK 6 587 357 to SEK 7 246 092,68.
For more information, please contact:
Torgny Hellström, Chairman of the Board of Directors
Tel: +46(0)8-209 208, email: [email protected]
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 21:20 CET on February 19, 2020.
Starbreeze is an independent developer, creator, publisher and distributor of PC and console targeting the global market, with studios in Stockholm, Barcelona and Paris. Housing the smash hit IP PAYDAY, Starbreeze develops games based on proprietary and third-party rights, both in-house and in partnership with external game developers. 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