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The Board of Scout Gaming Group has decided to issue a new issue of 900,000 new shares to institutional investors. The new issue was signed by Swedbank Robur, which after the Rights Issue becomes a significant owner with 1 180 000 shares (8.88% of the share capital after the Rights Issue). Existing shareholders in the form of Novobis AB, Knutsson Holding AB, Isoquant Holding AB, Naxs AB and Lars Wingefors AB also subscribed for shares in the rights issue.
Through the Rights Issue, Scout Gaming Group will receive proceeds of approximately SEK 42 million before issue costs. The subscription price represents a discount of approximately 0.6% compared with the closing price of the Scout Gaming Group share on October 29, 2018.
The reason for deviating from the shareholders’ preferential rights through the implementation of a directed new issue, is to ensure in a cost-effective and timely manner, funding to enable completion of the Company’s expansion in the US market, where the Company recently entered into two partnership agreements (Milestone Entertainment and Metric Gaming), and to ensure the Company’s financial ability to expand its operations in existing and new markets.
For additional information, please contact:
Andreas Ternström, CEO, Scout Gaming
Tel: +46 706 770 660
Billy Degerfeldt, CFO, Scout Gaming
Tel: +46 707581668
About Scout Gaming Group
Scout Gaming Group is a licensed and regulated provider of B2B Daily Fantasy Sports and pool betting. The company offers a flexible and customizable network based Fantasy Sports solution with support for most sports and leagues through an in-house statcenter which also provides real-time information to players. Local sports can be provided on request. The Group has approximately 70 staff and is headquartered in Stockholm, Sweden with development and operations in Bergen, Norway and Lviv, Ukraine. Sales, support and product management is handled from the office in Malta. Scout Gaming is listed on Nasdaq First North.