Brief: Stillfront Acquires Six Waves

Stillfront AB (publ)

20/01/2022 07:32

Jan 20 (Reuters) - Stillfront Group AB  SFRG.ST :
    * SAID ON WEDNESDAY ENTERED INTO AN AGREEMENT TO ACQUIRE UP
TO
100% OF THE SHARES IN SIX WAVES INC. FOR A TOTAL UPFRONT
CONSIDERATION OF USD 201 MILLION ON A CASH AND DEBT FREE BASIS 
    * 6WAVES IS A LEADING PUBLISHER OF MOBILE FREE-TO-PLAY
STRATEGY
GAMES IN JAPAN
    * OF THE UPFRONT PURCHASE PRICE, APPROX. 92% IS PAYABLE IN
CASH,
AND APPROX. 8% IS PAYABLE IN A TOTAL OF 2,913,857 NEWLY ISSUED
SHARES IN STILLFRONT
    * AS PART OF THE FINANCING ARRANGEMENT OF THE TRANSACTION,
STILLFRONT’S BOARD OF DIRECTORS HAS RESOLVED ON A PREFERENTIAL
RIGHTS ISSUE OF ABOUT SEK 2.0 BLN
    * COMPLETION OF THE TRANSACTION IS EXPECTED TO OCCUR ON 31
JANUARY
2022 AND 6WAVES IS EXPECTED TO BE CONSOLIDATED INTO STILLFRONT’S
CONSOLIDATED FINANCIAL REPORTING FROM 1 FEBRUARY 2022

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDLggTXz
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