Hva tenker folk om Starbreeze framover? Jeg tror vi kommer til å se 8-tallet igjen (ikke noe stor greie det, med kurs på 9,15). Finansieringen burde være i orden for 2018, men oTWD er som jeg ser det vinn eller forsvinn. Hvis det ikke selger bra nok, så har de ikke penger til neste prosjekt. Jeg prøver å skaffe meg oversikt over gjeld, og fant de 25MUSD under. Er det noe mer?
Starbreeze will also issue 25 MUSD (215 MSEK) in a five year convertible bond to Smilegate under the Board’s mandate. The bond will have a coupon of 2 percent per year. Smilegate may convert the bond into B shares at a conversion price of 13.49 SEK per share or if the actual share price is lower, at the 60 day average share price with a minimum conversion price of 9.35 SEK per share.
When certain pre-defined milestones are met, Starbreeze may also convert the bond into B shares, at a conversion price of 13.49 SEK per share or if the actual share price is lower, at the 60 day average share price with a minimum conversion price of 9.35 SEK per share.
If fully converted at 13.49 SEK, Smilegate’s holding in Starbreeze will increase by 15,941,586 B shares, to 6.9 percent of votes and 9.4 percent of capital on a fully diluted basis.
The bond is issued together with the rights to develop and publish an all-new game title based on the blockbuster CROSSFIRE in western markets. Starbreeze will hold a 10 year right to publish and service the title.
The issue prices of A shares at 13.27 SEK and B shares at 13.49 SEK, represent a 4.2 percent and 3.8 percent discount to the respective average share price during the last 60 trading days.
The deal documentation includes a lock-up clause for Starbreeze CEO Bo Andersson Klint, COO Mikael Nermark and CTO Emmanuel Marquez. Additionally, the documentation includes a change-of-control clause as is customary in game development deals, as well as certain penalty clauses that primarily apply if Starbreeze materially fail to perform.
Noen som vet forfallsdatoen på den gjelden? På meg virker det også som disse pengene er brukt opp, ettersom de nå trengte penger for å få oTWD på markedet. Project Crossfire står som “In Pre-Production”, noe jeg som får meg til å lure på hva penalty clausen er for noe. Det skjer jo tydligvis veldig lite her.
Ref: https://www.starbreeze.com/2016/01/starbreeze-and-smilegate-in-long-term-strategic-