14th Jan 2022 15:51
(Alliance News) - Team17 Group PLC announced on Friday a successful fundraising after "oversubscribed" placing of new shares bringing in GBP78.6 million.
The Nottingham, England-based video game development company placed 11.0 million shares at a price of 714 pence each at no discount to Thursday's closing price. The proceeds will be used in the GBP83 million acquisition of Astragon Entertainment GmbH, a German publisher and distributor of simulation games, which was announced on Thursday.
The placing shares are expected to be admitted to AIM at 8.00am on Tuesday. Following the placement, Team17 will have a total of 144.6 million shares of which the new shares make up nearly 10%.
Berenberg, Gossler & Co. KG oversaw the placement.
Chief executive officer of the company, Debbie Bestwick, bought 140,056 new shares, bringing her total up to 29.3 million, representing a 20.26% stake in Team17.
Team17's share price rose by 2.3% to 730.20 pence each in London on Friday afternoon.
By Elizabeth Winter; [email protected]
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