Adventure Box completes a directed new share issue of 4,444,444 new shares, raising proceeds of approximately SEK 60 million

Adventure Box Technology AB (publ) ("Adventure Box" or the "Company") has, as communicated in its press release, resolved on and carried out a new share issue of 4,444,444 shares (the "Directed New Share Issue"). The subscription price of the shares in the Directed New Share Issue amounts to SEK 13.5 per share. Through the Directed New Share Issue Adventure Box will receive proceeds amounting to approximately SEK 60 million before deduction of transaction costs.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

The subscription price in the Directed New Share Issue is SEK 13.5 and has been determined through an accelerated bookbuilding procedure carried out by the Company's financial advisor Pareto Securities AB ("Pareto Securities"), it is therefore the board of directors' assessment that the subscription price is in accordance with current market conditions. The subscription price in the Directed New Share Issue constitutes a discount of approximately 9.6 percent compared to the 10-day volume weighted average price (VWAP) on Nasdaq First North Growth Market closing on 12 October 2020. Through the Directed New Share Issue Adventure Box will receive approximately SEK 60 million before deduction of transaction costs.

 

The reasons for the deviation from the shareholders' preferential rights is to diversify the shareholder base among Swedish and international institutional and reputable investors and at the same time raise capital in a time and cost efficient manner. The proceeds from the Directed New Share Issue will be used to finance and further accelerate growth of the Company's gaming platform. In addition, proceeds will be used for other product and market development activities, with the aim of increasing the pace of commercialization of Adventure Box's products.

 

The Directed New Share Issue results in a dilution of approximately 29.5 percent of the number of shares and votes in the Company. Through the Directed New Share Issue, the number of outstanding shares and votes will increase by 4,444,444 from 10,625,242 to 15,069,686. The share capital will increase by SEK 444,444.4, from SEK 1,062,524.2 to SEK 1,506,968.6.

 

In connection with the Directed New Share Issue, the Company has undertaken, with customary exceptions, not to issue additional shares for a period of 12 months after the outcome of the Directed New Share Issue. Board members and persons of the management holding shares have undertaken not to sell any shares in Adventure Box for a period of 180 calendar days after the outcome of the Directed New Share Issue, with customary exceptions.

 

 

 

Advisers

Pareto Securities AB is acting as Sole Manager and Bookrunner, Törngren Magnell & Partners Advokatfirma KB is legal counsel to the Company and Baker McKenzie Advokatbyrå KB is legal counsel to Pareto Securities in connection with the Directed New Share Issue.

 

FOR MORE INFORMATION CONTACT:

Christopher Kingdon, CEO Adventure Box, +46 (0)73 051 1414,

chris@adventurebox.com, corp.adventurebox.com

About Adventure Box Technology AB (publ)

Adventure Box is a computer game technology company based in Stockholm, Sweden. The company provides "Adventure Box", an online platform where users can make, share and play 3D games. Adventure Box is the world's only fully online, streamed consumer game engine and sharing platform for user created games. Our solution makes it easy for the user to create games. Programming skills are not required. Games are easily shared, one-click to play using streaming. There is no need for resource-demanding down- or uploading of files. Adventure Box is listed on Nasdaq First North Growth Market with the ticker code ADVBOX, Redeye AB is the Company's Certified Advisor (CA) and can be reached via telephone +46 (0)8 121 576 90 or via mail certifiedadviser@redeye.se. For more information: https://corp.adventurebox.com/en/.

 

This information is such that Adventure Box Technology AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, on October 12, 2020 at 23:15 CET.


Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction where such offer would be considered illegal. This press release does not constitute an offer to sell or an offer to buy or subscribe for shares issued by the Company in any jurisdiction where such offer or invitation would be illegal. This press release is not a prospectus for the purposes of the Prospectus Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. Adventure Box has not authorized any offer to the public of shares or rights in any Member State of the EEA and no prospectus has been or will be prepared in connection with the Directed New Share Issue. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.

 

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

 

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

 

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the Directed New Share Issue must be made on the basis of all publicly available information relating to the Company and the Company's shares. Such information has not been independently verified by Pareto Securities (the "Manager"). The Manager is acting for the Company in connection with the transaction and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for giving advice in relation to the transaction or any other matter referred to herein.

 

The information in this press release may not be forwarded or distributed to any other person and may not be reproduced at all. Any forwarding, distribution, reproduction or disclosure of this information in its entirety or in any part is prohibited. Failure to follow these instructions may result in a breach of the Securities Act or applicable laws in other jurisdictions.

 

This press release does not constitute an invitation to warrant, subscribe, or otherwise acquire or transfer any securities in any jurisdiction. This press release does not constitute a recommendation for any investors' decisions regarding the Directed New Share Issue. Each investor or potential investor should conduct a self-examination, analysis and evaluation of the business and information described in this press release and any publicly available information. The price and value of the securities can decrease as well as increase. Achieved results do not provide guidance for future results. Neither the contents of the Company's website nor any other website accessible through hyperlinks on the Company's website are incorporated into or form part of this press release.

 

Forward-looking statements

This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release.

 

Information to distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may

otherwise have with respect thereto, the shares in Adventure Box have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in Adventure Box may decline and investors could lose all or part of their investment; the shares in Adventure Box offer no guaranteed income and no capital protection; and an investment in the shares in Adventure Box is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Directed New Share Issue.

 

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Adventure Box.

 

Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Adventure Box and determining appropriate distribution channels.

Adventure Box Technologies Delårsrapport 2020Q3

Ett kvartal kännetecknat av produktleverans och stark användartillväxt följdes upp med en nyemission som gör bolaget finansiellt starkare än någonsin förr.


Adventure Box Technologies Interim Report 2020Q3

A quarter characterized by product delivery and strong user growth was followed by a new share issue that makes the company financially stronger than ever before.


STABILT ANVÄNDARINTRESSE EFTER ÄNDRAT STRATEGIFOKUS

I linje med förväntningarna från den nya strategin fokuserad på organisk tillväxt, visar oktober på endast en mindre minskning av det totala antalet användare. Detta trots, sedan andra halvan av oktober, kraftigt minskad marknadsföring.


STABLE USER INTEREST AFTER CHANGED STRATEGY FOCUS

In line with expectations from the new strategy focused on organic growth, October shows only a small reduction in the total number of users. This despite sharply reduced marketing since the second half of October. User interest remains stable.


EN YTTERLIGARE FOKUSERAD TILLVÄXTSTRATEGI

Med stärkt kassa prioriterar nu Adventure Box fullt ut viral tillväxt.


A MORE FOCUSED GROWTH STRATEGY

With strengthened liquidity, Adventure Box now fully prioritizes viral growth.


ERFAREN GAMING-ENTREPRENÖR LOCKAR DUKTIGA SPELSKAPARE

En av hjärnorna bakom spelplattformen KoGaMa har påbörjat sitt samarbete med Adventure Box. Arbetet består inte bara av att öka antalet nya användare, utan även av att hantera ett mycket stort flöde av duktiga spelskapare mellan KoGaMa och Adventure Box.


EXPERIENCED GAMING ENTREPRENEUR ATTRACTS GOOD GAME MAKERS

One of the brains behind the gaming platform KoGaMa has begun his collaboration with Adventure Box. His work consists not only of increasing the number of new users, but also of managing an exceptionally large flow of skilled game creators between KoGaMa and Adventure Box.


Adventure Box genomför en riktad nyemission om 4 444 444 aktier och tillförs härigenom cirka 60 miljoner kronor

Adventure Box Technology AB (publ) ("Adventure Box" eller "Bolaget") har, i enlighet med vad som offentliggjordes i Bolagets pressmeddelande, beslutat om och genomfört en nyemission om 4 444 444 aktier (den "Riktade Nyemissionen"). Teckningskursen för aktierna i den Riktade Nyemissionen uppgick till 13,5 kronor per aktie. Genom den Riktade Nyemissionen tillförs Adventure Box cirka 60 miljoner kronor före avdrag för transaktionskostnader.


Adventure Box completes a directed new share issue of 4,444,444 new shares, raising proceeds of approximately SEK 60 million

Adventure Box Technology AB (publ) ("Adventure Box" or the "Company") has, as communicated in its press release, resolved on and carried out a new share issue of 4,444,444 shares (the "Directed New Share Issue"). The subscription price of the shares in the Directed New Share Issue amounts to SEK 13.5 per share. Through the Directed New Share Issue Adventure Box will receive proceeds amounting to approximately SEK 60 million before deduction of transaction costs.


Adventure Box offentliggör härmed sin avsikt att genomföra en riktad nyemission av aktier

Adventure Box Technology AB (publ) ("Adventure Box" eller "Bolaget") offentliggör härmed sin avsikt att genomföra en riktad nyemission om cirka 50 miljoner SEK till svenska och internationella institutionella investerare (den "Riktade Nyemissionen").


Adventure Box announces a contemplated directed new share issue

Adventure Box Technology AB (publ) ("Adventure Box" or the "Company") hereby announces its intention to carry out a directed new share issue of approximately SEK 50 million directed to Swedish and international institutional investors (the "Directed New Share Issue").


KRAFTIG TILLVÄXT: +48% BESÖKARE OCH +110% REGISTRERADE ANVÄNDARE

Både antalet Adventure Box-besökare och antalet registrerade användare ökar kraftigt. Antalet nya registrerade användare stiger i september med 110% jämfört med augusti. Samtidigt stiger antalet besökare med 48%. Den mycket låga kundanskaffningskostnaden bibehålls.


STRONG GROWTH: +48% VISITORS AND +110% REGISTERED USERS

Both the number of Adventure Box visitors and the number of registered users increase sharply. The number of new registered users during September increased by 110% compared to August. The number of visitors increase by 48%. Customer acquisition cost remain at an extremely low level.


ERFAREN VALBEREDNING UTSEDD INFÖR ADVENTURE BOX ÅRSSTÄMMA 2021

Styrelseakademins grundare, och sextonde störste ägare i Adventure Box, Öjvind Norberg tar plats i Adventure Box valberedning tillsammans med tredje största ägaren Lorang Andreassen och elfte störste ägaren Jonas Nordström.


EXPERIENCED NOMINATION COMITTEE APPOINTED FOR ADVENTURE BOX ANNUAL GENERAL MEETING 2021

The founder of Styrelseakademin, and sixteenth largest owner in Adventure Box, Öjvind Norberg takes a seat on Adventure Box's nomination committee together with the third largest owner Lorang Andreassen and the eleventh largest owner Jonas Nordström.


FORTSATT STARKARE NYCKELTAL

Den sociala aktiviteten på Adventure Box-plattformen har ökat med 18 gånger sedan den 1 juli. Trenden med fler användarskapade dataspelkomponenter fortsätter.


CONTINUED STRONGER KEY FIGURES

Social activity on the Adventure Box platform has increased by 18 times since July 1. The trend with more user-created computer game components continues.


TILLVÄXT NÄR SPELSKAPARE GÖR FLER SPEL

Adventure Box har en plattform där en användare kan skapa spel som sen andra användare kan spela. Att få användare att skapa flera spel är ett av Adventure Box mål. Nu presenterar bolaget ny data som visar att de som skapar spel numera skapar betydligt fler spel per person, vilket passar väl in i Adventure Box strategi med användarskapat innehåll.


GROWTH WHEN GAME CREATORS MAKE MORE GAMES

Adventure Box has a platform where a user can create games which then other can play. Getting users to create more games is one of the goals of Adventure Box. Now the company presents new data indicating that those who create games now create significantly more games per person. This fits well with the strategy with growing user-created content.


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