Business
Proposed placing via accelerated bookbuild
Proposed placing via accelerated bookbuild.
About this update from Devolver Digital, Inc.
[{"type":"text","content":"\n\n01 July 2024\n \nTHIS ANNOUNCEMENT (INCLUDING ITS APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BREACH ANY APPLICABLE LAW OR REGULATION.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN DEVOLVER DIGITAL INC. WHERE SUCH OFFER WOULD BREACH ANY APPLICABLE LAW OR REGULATION.\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nDevolver Digital, Inc.\n \n(\"Devolver Digital\", \"Devolver\" or the \"Company\", and the Company together with all of its subsidiary undertakings \"the Group\")\n \nProposed Placing of up to £7.9 million by way of an accelerated bookbuild\n \nDevolver Digital, an award-winning digital publisher and developer of independent (\"indie\") video games, announces its intention to undertake an equity placing (the \"Placing\") of up to £7.9 million (equivalent to USD $10 million*), through the issue of up to 23,917,151 new shares of common stock, par value $0.0001 each (the \"Placing Shares\"). The Placing Price is a c.10 per cent premium to the closing price as of the date of this Announcement. The Placing Shares will represent up to 5.4% of the issued and outstanding share capital of Devolver.\n \nThe Placing was originated by an inbound enquiry from existing shareholders. The net proceeds of the Placing will be used to further strengthen the balance sheet, providing additional flexibility for the Company to be able to take up further opportunities as they arise over the medium term and deliver shareholder value.\n&n...