Nitro Games plans to arrange a SEK 77.4 million right issue and secures bridge financing

13 kesäkuuta 2023

Nitro Games is a Finnish free-to-play game developer and publisher engaging in the development and publishing of mobile games with high production value for mid-core audiences. The company currently operates a portfolio of two games, NERF: Superblast (live ops) and Autogun Heroes (launch phase), and engages in development service agreements through its B2B service business.

To capitalise on the promising opportunities associated with the Autogun Heroes title, the company has decided to arrange a rights issue of approximately SEK 77.4 million. In order not to lose momentum, and to enable sufficient marketing and user acquisition during the ongoing launch phase, the company has secured a bridge loan of SEK 23.0 million, which will be repaid in connection with the rights issue.

Augment is acting as financial advisor to Nitro Games in connection with the rights issue and bridge loan.

Read full press release about the rights issue (in English)