Brief: Scout Gaming Receives Bridge Financing From Larger Shareholders

Scout Gaming AB

30/06/2022 07:23

June 30 (Reuters) - Scout Gaming Group AB  SCOUT.ST :
    * RECEIVES BRIDGE FINANCING FROM LARGER SHAREHOLDERS
    * HAS IDENTIFIED PREVIOUSLY UNKNOWN FINANCIAL COMMITMENTS
WHICH
RELATES TO FINANCIAL YEAR 2021 AND WHICH HAS A NEGATIVE IMPACT
ON LIQUIDITY OF COMPANY.
    * IDENTIFIED AMOUNT IS SEK 17 MILLION, WHICH IMPACTS CASH
FLOW FOR
CURRENT QUARTER AND HAS A NEGATIVE EFFECT ON PROFIT AND LOSS IN
QUARTER OF AROUND SEK 5.5 MILLION.
    * TO SECURE COMPANY'S WORKING CAPITAL, COMPANY HAS RECEIVED
GUARANTEES FROM THREE OF COMPANY'S MAJOR SHAREHOLDERS AND NEWLY
APPOINTED CHAIRMAN OF BOARD FOR A BRIDGE FINANCING OF SEK 20
MILLION.
    * GUARANTEED BRIDGE FINANCING MEANS THAT COMPANY HAS CASH TO
RUN
COMPANY AT LEAST UNTIL RIGHTS ISSUE HAS BEEN COMPLETED

Source text for Eikon:  ID:nWkrbqYN5y 
Further company coverage:  SCOUT.ST 

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