Embracer signs a new credit facility and increases the war chest. We believe a big acquisition is in their sights. Redeye views the event as positive, as the cost of debt is very low in the current environment, and Embracer has historically avoided debt. We have liked this conservative approach, but no leverage means a lower return on equity. Redeye also welcomes the fact that Embracer will be announcing acquisitions on an ongoing basis from now on.