Brief: Stillfront Group Acquires Super Free Games

Stillfront AB (publ)

18/12/2020 07:43

Dec 18 (Reuters) - Stillfront Group AB (publ)  SFRG.ST :  
    * ENTERED INTO AN AGREEMENT TO ACQUIRE 100% OF THE SHARES IN
SUPER
FREE GAMES, INC., A US-HEADQUARTERED GAMING COMPANY
    * TOTAL UPFRONT CONSIDERATION AMOUNTS TO USD 150 MILLION ON
A CASH
AND DEBT FREE BASIS
    * SELLERS ARE THE JOINT FOUNDERS AND MAIN OWNERS OF SUPER
FREE AS
WELL AS CERTAIN KEY EMPLOYEES AND OTHER INVESTORS
    * IN ADDITION, THE SELLERS MAY RECEIVE AN EARN-OUT PAYMENT
OF 0-2X
EBITDA FOR EACH OF THE FINANCIAL YEARS 2021, 2022 AND 2023
DEPENDING ON THE LEVEL OF EBITDA GENERATED BY SUPER FREE DURING
EACH OF THOSE YEARS
    * CLOSING OF THE TRANSACTION IS ENVISAGED TO OCCUR ON JAN.
29,
2021

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nMFN28WtwN
    
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