Adventure Box Completes Acquisition of Lion Gaming Group
Deal News | Feb 19, 2025 | Globenewswire
Adventure Box Technology AB (STO: ADVBOX) has successfully completed its acquisition of Lion Gaming Group Inc., finalizing a deal first initiated through a Share Purchase Agreement (SPA) on October 1, 2024. This acquisition was ratified at the Extraordinary General Meeting on December 30, 2024. The purchase, valued at approximately SEK 467 million, involved issuing consideration shares priced at SEK 0.40 each. The transaction has significantly altered Adventure Box's shareholder composition, with Lion's stakeholders acquiring roughly 94.88% of the combined company's shares and voting rights. Duncan McIntyre, CEO of Adventure Box, underscored the strategic growth this merger enables, enhancing their technological prowess within the iGaming sector. The complex completion process included settling Lion's USD 8.8 million convertible bonds and restructuring existing warrants. The integration of Lion is expected to propel Adventure Box's growth through innovative technological synergies and expanded market reach.
Sectors
- iGaming
- Technology
- Corporate Finance
Geography
- Sweden – Adventure Box Technology AB is based in Stockholm, Sweden, and operates under the Swedish regulatory framework.
- Global – Adventure Box aims to expand its global footprint in the iGaming market through this acquisition.
Industry
- iGaming – The acquisition enhances Adventure Box's presence in the iGaming sector, utilizing Lion Gaming's technology platforms.
- Technology – Involves the incorporation of Lion Gaming's sophisticated technology platform with Adventure Box's offerings.
- Corporate Finance – Involves complex financial transactions including share issuance and warrant restructuring as part of the acquisition.
Financials
- SEK 467 million – Total purchase price for the acquisition using consideration shares.
- USD 8.8 million – Value of Lion's convertible bonds settled through various methods.
- SEK 0.40 per share – Subscription price for consideration shares issued to Lion Gaming's shareholders.
- 51.7 MSEK – Lion Gaming’s estimated turnover for 2024.
- 2.3 MSEK – Lion Gaming’s estimated EBITDA for 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Adventure Box Technology AB | Acquirer | Company | Swedish company focusing on online game creation platforms. |
| Lion Gaming Group Inc. | Target | Company | A provider of technology platforms for the iGaming industry. |
| Berg Securities | Certified Adviser | Company | Advises Adventure Box Technology for its market operations. |
| Duncan McIntyre | CEO | Person | CEO of Adventure Box Technology AB. |