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Atari enters into an agreement to invest in Thunderful Group AB
Globenewswire· 2025-07-29 06:15
Core Insights - Atari has entered into a subscription agreement to invest SEK 50 million (approximately €4.5 million) in Thunderful Group AB, acquiring approximately 82% of the outstanding shares and votes of the company [2][4] - Thunderful Group AB specializes in game development, third-party publishing, and co-development services for PC and console platforms, owning over 20 intellectual properties [2][8] - The transaction is subject to approval by Thunderful's shareholders at an extraordinary general meeting scheduled for August 28, 2025 [5] Company Overview - Thunderful Group AB is listed on Nasdaq First North Premier Growth Market in Sweden and reported revenues of SEK 292 million (approximately €25 million) for the fiscal year ending December 31, 2024 [8] - The company has announced a restructuring plan aimed at reducing its cost base and improving operating cash flow [8] - Atari is recognized as an iconic brand in the interactive entertainment industry, managing a portfolio of over 400 unique games and franchises [9] Transaction Details - The transaction involves a directed issuance of 333,333,334 new ordinary shares at a subscription price of SEK 0.15 per share [4] - The transaction has received unanimous support from Thunderful's Board of Directors and two of its largest shareholders, who together own 29.9% of the capital and voting rights [6] - Atari has received an exemption from the Swedish Securities Council to complete the transaction without making a mandatory bid offer for the remaining shares [7]