Remedy Entertainment Oyj (“Remedy” or the “Company”) yesterday announced that the Company has completed a directed new share issue of 1,000,000 shares. The subscription price was EUR 41.5 per share, thus raising proceeds of approximately EUR 41.5 million, before deductions for costs related to the transaction. The subscription price in the Share Issue has been determined through an accelerated bookbuilding procedure and corresponds to a discount of approximately 8.8 percent compared to the closing price of as of 18 February 2021 on Nasdaq First North Growth Market Finland.
The objective of the Share Issue is to support Remedy’s updated strategy. The Company intends to use the proceeds of the Share Issue to finance the development of future game projects and possible self-financing and self-publishing of the selected future games as well as on the development of internal capabilities.
Remedy Entertainment Plc is a globally successful video game company known for story-driven and visually stunning console and computer games such as Control, Alan Wake and Max Payne. Remedy also develops its own Northlight game engine and game development tools.
Founded in 1995 and based in Finland, the company employs over 280 game industry professionals from 30 different countries. Remedy is listed on the Nasdaq First North Growth Market Finland marketplace
Carnegie acted as joint global co-ordinator and joint bookrunner in connection with the transaction.