Embracer Group AB (publ) has completed a private placement of Class B shares through an accelerated book building procedure, performed by Carnegie Investment Bank AB, Goldman Sachs International and Joh. Berenberg, Gossler & Co. KG, raising SEK 5,782 million before transaction costs.
Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market.
The proceeds from the private placement will further strengthen the Embracer Group's financial position and enable the company to continue its long track-record of successful acquisitions by complementing its operations by adding new game publishers, development studios or other assets.
The private placement was significantly oversubscribed and has seen significant demand from Swedish and international institutional investors, including Canada Pension Plan Investment Board and AMF Pension.
In connection with the private placement, the original co-founders have carried out a sale of existing Class B shares.
Baker McKenzie acted as legal advisor to Embracer Group. Baker McKenzie’s team consisted of Joakim Falkner, Ian Gulam and Johanna Flink from the firm's capital markets team in Stockholm and Adam Farlow and Charles Farnsworth from the firm’s capital markets team in London.
Carnegie Investment Bank and Goldman Sachs International acted as Global Coordinators and Joint Bookrunners, and Berenberg acted as Joint Bookrunner.