Aspire Global applied for Nasdaq First North Premier listing
Aspire Global filed its application for listing of its shares on Nasdaq First North Premier and published its prospectus while announcing the price for its share to be SEK 30.
The offering is directed towards the general public in Sweden and to institutional investors in Sweden and internationally. Approximately 25 percent of the outstanding shares, upon completion of the transaction, are offered to the market and corresponds to a total value of approximately SEK 330 million. A fifth of the offered shares are newly issued and the net proceeds from the new issue are mainly supposed to finance acquisitions and investments in the Company’s current pipeline and future opportunities, such as explore and expand into new markets, continue investing in the Company’s technical platform as well as strengthen the Company’s organisation through recruitment, primarily to the Company’s technology and product development departments.
Background to the Offering
Since 2014, Aspire Global has focused on strengthening its position within the industry by developing and improving its B2B offering as well as growing its proprietary brands. Aspire Global has during this time managed strong growth with very limited marketing expenditure towards new partners. Aspire Global, the Board of Directors and the selling shareholders believe that the Company is now in a position to leverage the strong platform and position established during the last few years to accelerate Aspire Global’s growth. Among other things, the Offering and subsequent listing of the Company’s shares on Nasdaq First North Premier are expected to strengthen Aspire Global’s recognition and brand awareness among players, partners, investors, employees and the sector in general as well as provide access to capital in order to finance Aspire Global’s growth strategy. The listing will also enhance the ability of Aspire Global to use its shares as currency in future acquisitions.
Tsachi Maimon, CEO comments:
“We have built and refined a unique business model that has enabled us to reach an attractive market position in Europe. Going forward we will continue to focus on growth and exploit future business opportunities, as more and more gaming markets becomes regulated. Since the beginning of this year, we have signed agreements with nine new operators while negotiations are in place with a few additional potential partners. We are also exploring potential acquisitions, proactively seeking for the right opportunities. I am looking forward to welcoming new investors on this journey of continued profitable growth with Aspire Global.”
Commitments to acquire shares
Robur Fonder has, as a Cornerstone Investor, committed to, under conventional terms and conditions and at the same price as other investors, acquire shares in the Offering. Based on full subscription in the Offering, the commitment of Robur Fonder corresponds to around 26% of the number of shares in the Offering and around 8% of the total number of shares in the Company after the Offering.
In addition to Robur Fonder, two additional Swedish institutions and a group of entrepreneurs within the internet sector have expressed their intention to subscribe for shares in the Offering corresponding to around 27% of the number of shares in the Offering and around 8% of the total number of shares in the Company after the Offering. These investors are not guaranteed full allocation, but might be considered separately in allocation.
In total, the commitment of Robur Fonder and indications from other investors correspond to around 53% of the total number of shares in the Offering and around 15% of the total number of shares in the Company after the Offering.
Carl Klingberg, chairman of the board comments:
“The listing of the Aspire Share is an important step in our development and it secures the possibility to accelerate growth both organically and through acquisitions. Since the announcement of our intention to float we have received a lot of positive feedback from investors who appreciate Aspire Global’s position, scalable business model and advanced gaming platform. The increase of partner agreements in a number of European regulated markets further set favourable conditions for continued growth. I have great confidence in our management team’s capacity to drive growth and look forward to actively supporting Aspire Global’s development in the future.”
Application period for the general public in Sweden 27 June–5 July 2017
Application period for institutional investors 27 June–6 July 2017
Announcement of the result in the Offering 7 July 2017
First day of trading on Nasdaq First North Premier 7 July 2017
Settlement day 11 July 2017
Aspire Global will exhibit at SiGMA17. Don’t miss a chance to meet them at their stand and register today:
|Relive the highlights from our last show and stay tuned for this year’s SiGMA. Watch out for what we’re branding as the ‘iGaming Village’ this year.||Are you an operator looking for top affiliates? Are you a top affiliate looking for a nice treat with like-minded affiliates playing at the same level?|
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