SOZAP is a Swedish digital entertainment company engaging in the development and distribution of qualitative and innovative mobile games within the free-to-play genre. The game portfolio consists of the company’s first success, ARMED HEIST, that marked SOZAP’s breakthrough in the gaming industry, and two new game titles that have been launched in the past year: Questopia (global launch) and Fishing Tour (soft launch).
Fishing Tour has shown levels of user engagement that exceed the company’s internal target and previously developed games, leading to a strategic adjustment of the organization to focus most of the resources on Fishing Tour.
SOZAP’s primary objectives with the rights issue are to complete and launch Fishing Tour and to achieve positive operating cash flow. In total, 10,877,091 shares were subscribed for in the rights issue, corresponding to approximately SEK 8.2 million. The entire net proceeds from the rights issue will be allocated to working capital to achieve these objectives.
Augment acted as financial advisor to SOZAP in connection with the transaction.