The Company’s Board of Directors has resolved to issue a new senior bank debt facility of million 15 SEK with a leading Nordic bank at competitive interest rate. The newly issued bank debt facility runs over 36 months with straight amortization rate during the term.
– This bank debt facility gives the Company greater flexibility to act quickly in the M&A market within gaming and e-sports. I believe that over time it will also create shareholder value, to avoid dilution at the stage we are now, comments Stefan Tengvall, President and CEO of Fragbite Group.
Yesterday, Fragbite Group announced that it had completed the acquisition of Playdigious SAS, which was acquired through a combination of cash payment of EUR 3 million from its own cash and an additional 5,062,502 newly issued shares at a share price of SEK 4.