Announcement of outcome of the oversubscribed rights issue

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Scout Gaming Group AB (publ) (the "Company" or "SGG") today announces the outcome of the Company's rights issue of shares corresponding to approx. SEK 101 million in which the subscription period expired on 22 September 2022 (the “Rights Issue”).  245,094,911 shares have been subscribed with and without the exercise of subscription rights, corresponding to 120.9 percent of the Rights Issue. The Rights Issue was thereby oversubscribed, and the underwriting undertakings will not be used. The Rights Issue was therefore subscribed to 100 percent and SGG will raise approx. SEK 101 million before deduction of issuing costs.

Outcome of the Rights Issue

192,985,659 shares have been subscribed for with the support of subscription rights, corresponding to approx. 95.2 percent, and 52,109,252 shares have been subscribed for without the support of subscription rights, corresponding to approx. 25.7 percent of the Rights Issue. The Rights Issue was therefore oversubscribed to a total of 120.9 percent and the underwriting undertakings did not need to be used. Through the Rights Issue, the Company receives approximately SEK 101 million before deduction of issuing costs of approx. SEK 2.5 million. Approx. 40 percent of the proceeds is used to offset or repay bridge financing, while the remaining approx. 60 percent is allocated to the Company's cash balance. No remuneration will be paid for the subscription undertakings and underwriting undertakings.

Subscription and allotment

Allotment of shares subscribed for without the support of subscription rights has been carried out in accordance with the principles set out in the EU-growth prospectus that was published on 6 September 2022. Notification of the allotment of shares subscribed for without exercising subscription rights, will be sent to those who have been allotted shares via a separate settlement note. Nominee shareholders receive notification of allotment in accordance with the respective nominee's routines. 

Lock-up

All shares subscribed for through the subscription undertakings are subject to so called lock-up, meaning that the shares allotted under the undertakings may not be sold without the prior consent of the Company. The lock-up undertaking applies for a period of nine (9) months after the allotment of shares in the Rights Issue and is subject to customary exemptions.

Changes in share capital and number of shares

Through the Rights Issue, SGG’s share capital will increase by approx. SEK 10,667,390.97 through issue of 202,680,423 shares. After registration of the Rights Issue the share capital will amount to SEK 11,852,656.63, and the number of shares will amount to 225,200,470.

Paid subscribed shares

Trading in so-called paid subscribed shares (BTA) will take place on Nasdaq First North Growth Market until the BTA have been converted to shares. The conversion will take place after the Rights Issue has been registered at the Swedish Companies Registration Office, which is expected to take place during week 40, 2022.

Advisor

Corpura Fondkommission AB (www.corpura.se) is financial advisor and Eversheds Sutherland Advokatbyrå AB is legal advisor to the Company in connection with the Rights Issue.

For additional information, please contact:

Niklas Braathen, Chairman of the Board
Phone: +46 705 25 27 77
E-mail: [email protected]

Niklas Jönsson, Chief Financial Officer and Acting CEO
Phone: +46 725 49 41 73
E-mail: [email protected]

This information is information that Scout Gaming Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.50 CET on September 26 2022.

About Scout Gaming Group

SGG is a licensed and regulated full range supplier within Fantasy Sports. The Company offers a flexible and customizable network-based service with support for most sports and leagues. The Company is headquartered in Stockholm, Sweden with development and operations in Bergen, Norway and Lviv, Ukraine. Sales, support and product development is handled by the office in Malta. For more information about the company, please visit scoutgaminggroup.com. Scout Gaming Group AB (publ) is listed on Nasdaq First North Growth Market and the Certified Adviser is Redeye AB. Contact details: [email protected], +46812157690.

IMPORTANT INFORMATION

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in such jurisdictions, in which this press release has been released, announced, or distributed, should inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in SGG in any jurisdiction, either from SGG or from someone else. This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction.

This press release does not constitute a recommendation concerning any investor's option with respect to the rights issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this press release and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933 (the “Securities Act”), as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into, Australia, Canada, Japan, Hong Kong, New Zealand, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

In the United Kingdom, this press release and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.