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Enad Global 7 AB (publ) ("EG7" or the "Company") has, has today completed the acquisition of 100 percent of the shares in Innova Intellectual Properties S.à r.l. ("Innova"), which was announced through a press release on 25 February 2021 (the "Transaction"), for a consideration of approximately EUR 109.8 million calculated on a cash- and debt- free basis. The purchase price will be paid entirely in newly issued EG7 shares and the Transaction does not include an earn-out structure. The number of newly issued shares amounts to a maximum of 9,726,053 shares, to be issued at a price per share of SEK 113.57 . Following the Transaction, the sellers of Innova will together hold approximately 11.21 percent of the total number of outstanding shares and votes in EG7.
COMPLETION OF THE ACQUISITION OF INNOVA
The consideration which has been paid for 100 percent of the shares in Innova amounts to approximately EUR 109.8 million , equivalent of approximately SEK 1.1 billion , on a cash- and debt- free basis. The consideration is paid in whole with shares in EG7.
The price per EG7 share is based on a based on a volume weighted average price of the EG7 share on Nasdaq First North Growth Market for the 10 consecutive trading days preceding 25 February 2021 equal to SEK 113.57 per share.
The board of directors has today, pursuant to the authorization granted by the extra general meeting on 17 December 2021 , resolved to issue the shares paid as consideration. The issue of the shares results in a dilution of approximately 11.2 percent of the number of shares and votes in the Company after the Transaction, through an increase in the number of outstanding shares by 9,726,053, from 77,034,399 to 86,760,452. The share capital will increase by SEK 389,042.12 from SEK 3,081,375.96 to SEK 3,470,418.08 .
EG7's and Innova's financial reporting will be consolidated from 31 March 2021 .
For further information about the acquisition of Innova, please refer to the previous press release published on 25 February 2021 .
ADVISORS
Baker McKenzie is acting as legal advisor to EG7 in the Transaction. Agnitio Capital is acting as financial advisor and DLA Piper is acting as legal advisor for Innova and its shareholders in the Transaction.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Robin Flodin , CEO
Phone: +46 70 477 06 34
ABOUT EG7
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The company employs 470+ game developers and develops its own original IP:s, as well as act as consultants to other publishers around the world through its game development divisions Daybreak Games, Piranha Games, Toadman Studios, Big Blue Bubble and Antimatter Games. In addition, the group's marketing department Petrol has contributed to the release of 1,500+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage. The group's publishing and distribution department Sold Out holds expertise in both physical and digital publishing and has previously worked with Team 17, Rebellion and Frontier Developments. EG7 is headquartered in Stockholm with 670 employees in 13 offices worldwide.
Nasdaq First North Growth Market Ticker Symbol: EG7
Certified Adviser: Eminova Fondkommission AB, Phone: +46 8 684 211 00
The information was submitted for publication on 31 March 2021 at 8:30pm CEST , care of above contact person.
IMPORTANT INFORMATION
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in EG7 in any jurisdiction, neither from EG7 nor from someone else.
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SOURCE Enad Global 7 AB (publ)
