Nitro Games: Phase Two in the Relationship

Research Note

2020-04-15

12:02

Today Nitro Games announced that Nordisk Film Games becomes the largest shareholder in the company. SEK 25 million has been invested through in a directed share issue and SEK 20 million in a convertible loan. The share issue will result in a dilution of approximately 40% for existing shareholders. Recently we wrote a comment named “Looks like the Beginning of a Beautiful Friendship”. Nordisk Film Games own Avalanche Studios which means this is phase two in this “Beautiful Friendship” according to us.

TO

KL

Tomas Otterbeck

Kristoffer Lindström

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