B2B Daily Fantasy Sports provider Scout Gaming Group has completed two directed share placements in which the firm has received an estimated £6.5m (SEK75m) and over three million new shares.
In total the firm issued 1,835,062 shares through an accelerated ‘book building’ procedure, which calculated to around SEK45m.
Additionally the firm’s second share issue was through US-based institutional investor Topline Capital Partners Ltd, totalling 1,200,000 shares and SEK30m, both values were estimated before 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 the registration of both share issues, the total number of shares at Scout Gaming will amount to just over 20.5m . Additionally, the company’s share capital will increase by around SEK160,000 to SEK1.09m.
The shares will be transferred to the new and existing shareholders in the Company in accordance with agreements entered between ABG Sundal Collier and the actual investors.
In relation to the recent Share Issue, Scout Gaming has appointed ABG Sundal Collier as Sole Lead Manager and Bookrunner and Advokatfirman Delphi as legal counsel.
Swedish based firm Scout Gaming offers a customisable network-based Fantasy Sports solution through an in-house StatCenter, providing operators with real-time information to players.