Bambuser AB has carried out a private placement of shares through an accelerated book building procedure, raising approximately SEK 290 million before transaction costs.
Investors in the private placement are both Swedish and international investors including new investors such as Harmony Partners, a US-based venture investor, Consensus Asset Management, Handelsbanken Fonder, Lancelot Asset Management AB and TIN Fonder, as well as current shareholders such as Muirfield Invest AB (a company associated with board member Carl Kinell) and Joel Citron.
Bambuser provides a platform for interactive mobile live video streaming and is a leading supplier in the live video segment.
Bambuser intends to use the proceeds from the private placement to increase the growth of the operations through primarily appointing new resources in an accelerated tempo. This is to deal with the increased interest from new customers as well as to faster facilitate expansion to new markets.
Furthermore, Bambuser intends to continue to increase the technological advantage and ensure a leading market position.
Carnegie Investment Bank AB acted as Sole Global Coordinator and Bookrunner in connection with the transaction and Baker McKenzie acted as legal advisor.
Baker McKenzie's team consisted of Joakim Falkner, Ian Gulam and Johanna Flink from the firm's Capital Markets group in Stockholm; Adam Farlow, Roger James and Charles Farnsworth from the firm's Capital Markets group in London and Paul DePasquale from the firm’s Tax Group in New York.