Scout Gaming Group AB (publ) (the “Company”) is pleased to announce that it has secured a firm commitment for strategic investment from the Las Vegas-based international wagering and gaming industry investment firm, Tekkorp Holdings LLC (“Tekkorp”).
Tekkorp Holdings, controlled by President and CEO, Matt Davey, has provided an undertaking to subscribe for shares in the Company up to an amount of MUSD 1 (“Placement”).
“Matt Davey and Tekkorp are Scout Gaming's optimal strategic partner in the position we are in. He is one of the absolute most important names in the sector in the United States and will on several levels help to develop Scout ahead,” commented Scout Gaming’s CEO Andreas Ternström.
“We have observed Scout Gaming's development and are impressed with what they have achieved in a short time. They are the leading supplier Fantasy Sports-related gaming products now facing an international expansion and we intend to support the Company going forward”, comments Tekkorp’s CEO, Matt Davey.
The Placement is expected to be settled within the following week.
The funds raised from the Placement will be used to further strengthen Scout’s product offering and the continued the geographical expansion.
For further information, please contact:
Andreas Ternström, CEO, on tel +46 706 770 660
Billy Degerfeldt, CFO and investor relations, on tel +46 707581 668
Scout Gaming Group is listed on Nasdaq First North
The Certified Adviser is Redeye AB, tel +46 8 545 013 49
This constitutes information that Scout Gaming Group (publ) is legally obliged to publish under the EU’s Market Abuse Regulation. The information was released for publication, through the agency of the contact persons above, on 27 June 2019 at 5:35 p.m. CEST.
About Scout Gaming Group AB
Scout Gaming Group is a licensed and regulated B2B fantasy sports provider and betting provider. The Company offers a flexible and adaptive network based Fantasy Sports solution with support for most sports and game formats. The group company has approximately 80 employees and is headquarted in Stockholm, Sweden with development and operations in Bergen, Norway, and Lviv, Ukraine. Sales, support and product development is managed from the office on Malta. For more information regarding the Company, please visit: www.scoutgaminggroup.com.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in Scout Gaming Group AB (publ) in any jurisdiction, from Scout Gaming Group AB (publ), ABG Sundal Collier AB or any other entity. The information in this press release will not and may not be copied, published or distributed, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, Switzerland, South Korea the United States or in any other jurisdiction where such distribution would be illegal or would be subject to registration other measures. 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 to acquire securities in the United States. The securities referenced here have not and will not be registered in accordance with the Securities Act of 1933 (“Securities Act”), and may not be offered or sold in the United States absent registration, an exemption from registration, or unless they are part to a transaction which is not subject to registration from the Securities Act. There will be no public offering in the United States to acquire the shares referenced here.
This press release does not constitute a recommendation for any investors’ decision regarding the rights issue. Each investor or potential investor should conduct its own investigation, 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. Previously achieved results do not provide guidance for future results.
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 Scout Gaming Group 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 Scout Gaming Group may decline and investors could lose all or part of their investment; the shares in Scout Gaming Group offer no guaranteed income and no capital protection; and an investment in the shares in Scout Gaming Group 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 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 Scout Gaming Group.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Scout Gaming Group and determining appropriate distribution channels.
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