Toadman Interactive issues SEK 120m in 3-year senior secured bonds
Stockholm, June 10, 2019
Toadman Interactive AB (publ) (”Toadman” or the “Company”) has successfully placed SEK 120m in senior secured bonds (the “Bond Issue”) under a bond loan with a framework of SEK 500m and a maturity in June 2022 (the “Bond Loan”). The proceeds from the Bond Issue will be used to finance the cash consideration for the acquisition of PETROL Advertising, Inc. (”PETROL”) and for general corporate purposes.
The interest rate for the Bond Loan was set to a fixed interest rate of 12% and the Bond Issue is completed at a price of 100% of the nominal amount. The Bond Loan will be secured through pledges over shares in the Company’s material subsidiaries, including PETROL. The Bond Loan has a tenor of 3 years and has a first possible call date after 18 months. The Bonds are expected to be admitted to trading on Nasdaq First North.
The investors in the Bond Issue are Nordic institutions and private individuals.
“We are happy to announce that the financing now is finalized and want to thank the investors for supporting our journey. To issue a bond loan and fund the acquisition in this way is a milestone for Toadman. It is also great to have the flexibility to make subsequent issues up to the full framework of SEK 500 million, giving us more ammunition for further potential add-ons”, says Robin Flodin, CEO Toadman.
For further information about the acquisition of PETROL, please refer to the previous press release published on June 4, 2019.
Carnegie Investment Bank AB (publ) acted as Sole Bookrunner in conjunction with the Bond Issue and Gernandt & Danielsson Advokatbyrå acted as legal counsel. Baker McKenzie (Stockholm & San Francisco/Palo Alto offices) acted as legal counsel to Toadman.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Robin Flodin, CEO
Phone: +46 70 477 06 34
Alexander Albedj, Chairman
Phone: +46 76 221 30 75
This information is information that Toadman Interactive AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 12:00 CET on June 10, 2019.
Toadman is a Swedish gaming development studio based in Stockholm, whose business concept is to develop games for a growing consumer market for players on a global basis. The focus is primarily on games in the areas of action-based Role Playing Games but can also be games in related areas. Since its foundation in 2013, the Company's employees have been involved in the development of well-known PC and console titles, as well as mobile, including Dead Island, Killing Floor, and Warhammer: Vermintide. The Company's goal is to create an independent gaming development company that develops games through its own investments, which thus does not have to rely on external investments. The Company's strategy is to continue to grow by developing games in its existing offices, and to work its way up the value chain by first going towards developing games through own resources and then also placing games on its own. For further information, please visit www.toadmaninteractive.com
Nasdaq First North Ticker Symbol: TOAD
Certified Adviser: Eminova Fondkomission AB, Phone: +46 8 684 211 00