The Directed Issues
The subscription price in the Directed Issues will be determined through the Bookbuilding Procedure, which will commence immediately today May 19, 2021 and end before trading starts on Nasdaq First North Growth Market on May 20, 2021. The Company will announce the outcome of the Directed Issues through a press release when the Bookbuilding procedure has been completed. The bookbuilding procedure may, on the Company Board’s discretion, be shortened or extended and may be terminated at any time.
The purpose of the Directed Issues and the reason for deviating from the shareholders' preferential right is to raise capital in a time- and cost-effective manner in order to finance the Acquisition and to finance organic growth and possible future acquisitions. For further information regarding the Acquisition, see the separate press release titled "M.O.B.A. Network enters into an agreement to acquire the company Magic Find – a leading player within gaming streaming on YouTube and owner of a number of well-known gaming communities" which was announced earlier today. By determining the subscription price in the Directed Issues through a Bookbuilding procedure, the Board's assessment is that the subscription price is set in accordance with market practice.
The Directed Issues are, among other things, subject to approval by the Board of M.O.B.A. Network and conducted partly within M.O.B.A. Networks' existing mandate granted by the Annual General Meeting held on February 25, 2021, partly outside the current mandate and thus subject to the approval of an Extraordinary General Meeting. If the Board decides to carry out the Directed Issues, a notice to an Extraordinary General Meeting will be published which will contain a proposal to approve the issuance of shares outside the mandate granted by the Annual General Meeting on February 25, 2021. The notice to the Extraordinary General Meeting is expected to be published in connection with the publication of the outcome of the Bookbuilding procedure. Shareholders corresponding to 58.5 percent of the number of outstanding shares in the Company have undertaken to vote in favour of the Board's decision to issue the part of the Directed Issues that exceed the mandate authorized by the Annual General Meeting on February 25, 2021. Shareholders corresponding to an additional 9.2 percent of the outstanding shares in the Company have informed their intention to vote in favour of an approval which implies that the total number of shares that has undertaken or informed intention in favour of the Directed Issues amount to 67.7 percent. The Acquisition is not conditional on the subsequent approval of the Annual General Meeting.
Advisors
ABG Sundal Collier AB has been appointed Sole Bookrunner and the law firm Delphi has been appointed as legal advisor in connection with the Directed Issues.
ABG Sundal Collier and KPMG have acted as financial advisors and the law firm Delphi and Westerlund Law have acted as legal advisers in connection with the Acquisition.
This disclosure contains information that M.O.B.A Network AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 19-05-2021 17:32 CET.
