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. The company has confidence in the game’s potential to outperform industry benchmarks and attain global scalability in a market where the largest sports fishing games have been downloaded over 265 million times, and the leading competitor game generated revenues equivalent to over SEK 700 million in 2023.
The company has decided on a rights issue of approximately SEK 11.4 million with two main objectives: a) complete and launch Fishing Tour, and b) achieve positive operating cash flow.
The rights issue has been covered by subscription commitments of approximately SEK 5.1 million by the company’s board, management and certain shareholders.
Augment is acting as financial advisor to SOZAP in connection with the transaction.