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Nitro Games generates $3.1 million from sale of 500,000 new shares

Date Type Companies involved Size
October 18th, 2017 investment Nitro Games $3.1m
Nitro Games generates $3.1 million from sale of 500,000 new shares

Nitro Games has sold 500,000 in new shares for a total of $3.1 million (25 million SEK) to continue its push into self-publishing.

The largest investor was Swedbank Robur Ny Teknik, which picked up a 9.66% stake in Nitro Games for $1.4 million (11.25 million SEK). Other investors this time around include Calgus, Feat Invest AB, Johan Biehl and Savox Investments.

Nitro Games sold its new shares at 50 SEK per share, a premium of 6.4% based on the closing price on October 17th 2017. It believes that the sale will benefit both the company and the existing shareholders.

War sells

"I am happy to welcome Swedbank Robur Ny Teknik, equity fund Calgus and a handful of new professional investors as shareholders in our company," said Jussi Tähtinen, CEO of Nitro Games.

"This capital increase supports our strategy and enables us to accelerate growth further, as we seek to continue our work with Medals of War and introduce new games to the market."

Nitro Games started trading publicly back in June 2017. It has also partnered with Netmarble EMEA to launch Medals of War to Turkish and Arabic-speaking countries.


Former Editor

Ric was formerly the Editor of Pocket Gamer and the Deputy Editor of PocketGamer.biz. He still pops up time to time to review games.

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