8186
Next Games Corp.: Next Games, And Its Largest Shareholder Jari Ovaskainen, Agree On a EUR 3 Million Loan To Support Stranger Things: Puzzle Tales Game’s Growth
NEXT GAMES CORPORATION | INSIDE INFORMATION | 25 October 2021, 3:05 pm EEST
CLOSELY ASSOCIATED PERSON TRANSACTION
Next Games (the ”Company” or “Next Games”) has made an agreement on a three million Euro loan to support the Company’s growth strategy. The loan is granted by the Company’s largest shareholder and closely associated person, Jari Ovaskainen. The Company’s Board of Directors decided in its meeting on 25 October 2021 to accept the terms of the loan.
Loan Conditions
The loan can be drawn in parts or in its entirety starting from 31 October 2021. The maturity of the loan term is a maximum of eight years starting from the first drawdown and has to be paid back in its entirety by 1st of December 2029. The annual interest rate for the loan is 6%. The loan is non convertible in part or in its entirety to the Company’s shares. The loan is unsecured and according to the Company’s assessment, in accordance with market terms and conditions.
Use of the raised funds
The purpose of the loan is to support and expand Next Games’ growth strategy. The Company intends to use the entirety of the raised funds towards growing the sales of the new Stranger Things: Puzzle Tales game and its marketing investments. The loan enables the company to finance its growth strategy in a sustainable manner, faster scaling of the game as well as optimal balance structure.
Teemu Huuhtanen, CEO Next Games: “Jari Ovaskainen has been an integral part of Next Games’ story, offering decades of experience from successful growth companies. Jari’s expertise and firm support for the company’s management has played, and will continue to play an important role in the next chapter of our growth. Stranger Things: Puzzle Tales is showing encouraging engagement and early monetization performance, in line with our expectations. The loan enables controlled scaling of the game at a faster pace on our key markets.”
Jari Ovaskainen, Member of Board of Directors, Largest Shareholder, Next Games: “Next Games has proven its capability to craft authentic mobile game experiences based on the world’s biggest entertainment brands. Next Games’ strategy is solid and I am pleased to support the company’s next chapter.”
ADDITIONAL INFORMATION
Contacts:
Saara Bergström
Chief Communications Officer
+358 (0) 50 483 3896
[email protected]
Certified Adviser: Alexander Corporate Finance Oy, tel. +358 (0) 50 520 4098
About Next Games
Next Games is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefine the way franchise entertainment transforms into highly engaging service-based mobile games. Next Games works on multiple new games based on beloved global IP’s, including Stranger Things: Puzzle Tales based on Netflix’s hit 80s horror drama series and Blade Runner: Rogue based on Blade Runner. www.nextgames.com
About Jari Ovaskainen
Jari Ovaskainen founded IObox, a Finnish Internet portal, in 1999. The following year, IObox was sold to Terra Mobile (Telefonica) for 230 Million Euros – the biggest VC exit in Finland at the time. Since IObox, Ovaskainen was one of the seed investors in Supercell and sold his share of the company to Soft Bank on a three Billion Euro valuation in 2013. In the same year, Ovaskainen invested in Next Games for the first time. Ovaskainen was chosen as Business Angel of the Year in Europe in 2014. Next Games listed on the Helsinki Stock Exchange in 2017. Ovaskainen participated in the initial public offering and has since invested in the company twice: in 2019 and 2020. Jari Ovaskainen is Next Games’ largest shareholder.
Powered by WPeMatico
8186
The Arbitral Tribunal Has Confirmed Netflix, Inc.’s Redemption Right Regarding Next Games Corporation’s Minority Shares
Next Games Corporation Company Release August 19, 2022 at 2:45 p.m. (EEST)
The arbitral tribunal has confirmed Netflix, Inc.’s redemption right regarding Next Games Corporation’s minority shares
The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today on August 19, 2022 confirmed that Netflix, Inc. (“Netflix”) has the right to redeem the minority shares in Next Games Corporation (“Next Games”) and that Netflix has the right to obtain title to the minority shares by placing a security approved by the arbitral tribunal for the payment of the redemption price and the interest possibly accruing thereon.
Next Games announced on 9 August 2022 that the Board of Directors of Next Games had decided to apply for the termination of multilateral trading in Next Games’ shares and for the delisting of Next Games’ shares from the First North Growth Market Finland marketplace’s list (“First North”) to occur as soon as possible after Netflix has received title to all the Next Games shares subject to redemption in the redemption proceedings.
The title to the minority shares is transferred to Netflix once a security approved by the arbitral tribunal has been placed, which is expected to take place on or about 22 August 2022. The minority shareholders of Next Games, following the placing of the security and the transfer of ownership, are entitled to receive only the redemption price and the possible interest payable thereon. Nasdaq Helsinki Ltd. will issue a separate release regarding the delisting of Next Games’ shares from First North.
Next Games Corporation
Additional information:
Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Media: [email protected]
Investor relations: [email protected]
Certified Adviser: Aktia Alexander Corporate Finance Oy, tel. +358 (0) 50 520 4098
About Next Games
Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com
Powered by WPeMatico
Next Games Corporation Company Release 12 August 2022 at 9:30 a.m. (EEST)
Next Games reschedules publication of its Half-Year Review 1 Jan – 30 Jun 2022 to Wednesday 31 August 2022. The previously planned publication date for the Half-Year Review was 19 August 2022.
The reason for the postponement is integration work relating to the previously announced, completed tender offer for all shares in Next Games by Netflix, Inc., including expansion of Finnish, international and U.S. accounting standards as well as changes in reporting systems, which delays the preparation of the Half-Year Review.
Additional information:
Saara Bergström
Chief Communications Officer
+358 (0) 50 483 3896
[email protected]
Certified Adviser: Aktia Alexander Corporate Finance Oy, puh. +358 (0) 50 520 4098
About Next Games Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com
Powered by WPeMatico
8186
Next Games Corporation Applies for the Delisting of Its Shares From the First North Growth Market Finland Marketplace
Next Games Corporation Company Release August 9, 2022 at 9:30 a.m. (EEST)
Next Games Corporation applies for the delisting of its shares from the First North Growth Market Finland marketplace
The Board of Directors of Next Games Corporation (“Next Games”) has on 8 August 2022 decided to apply for the termination of multilateral trading in Next Games’ shares and for the delisting of Next Games’ shares from the First North Growth Market Finland marketplace’s list (“First North”).
As announced earlier, Netflix, Inc. (“Netflix”) has with its application to the Redemption Board of the Finland Chamber of Commerce dated 9 May 2022 commenced redemption proceedings pursuant to Chapter 18 of the Finnish Limited Liability Companies Act to redeem all minority shares in Next Games.
Netflix holds more than nine tenths (9/10) of all shares and votes in Next Games. Netflix has the right to redeem all shares held by minority shareholders of Next Games. Subject to the approval of the arbitral tribunal appointed to resolve the matter, Netflix has the right to acquire all shares held by the minority shareholders by placing a security for the payment of the redemption price.
Next Games will as soon as possible file an application for the termination of trading and for the delisting with Nasdaq Helsinki Ltd. In the application, Next Games will apply for the termination of trading and delisting as soon as possible after Netflix has received title to all Next Games shares subject to redemption in the redemption proceedings.
Next Games Corporation
Additional information:
Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Media: [email protected]
Investor relations: [email protected]
Certified Adviser: Aktia Alexander Corporate Finance Oy, tel. +358 (0) 50 520 4098
About Next Games
Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com
Powered by WPeMatico
-
Africa5 days agoSouth Africa: Tribunal Grants Lottoland Interim Relief – Orders Google to Grant Lottoland Access to its Advertising Platform
-
Balkans5 days ago
CT Interactive Shortlisted in Two Categories at BEGE Awards 2024
-
21VIRAL5 days ago
21VIRAL Integrates Air Dice Group Games
-
Balkans5 days ago
NOVOMATIC Presents New Gaming Highlights at the BEGE
-
Latest News5 days ago
Stakelogic Wraps Up Deal with Bet25.dk
-
Amusnet5 days ago
Amusnet Expands Latin American Presence Through Strategic Partnership with bet365 in Peru
-
Chris Christie5 days ago
Chris Christie bets on Texas to approve OSB in 2025
-
Balkans4 days ago
Amusnet Powers BEGExpo’s 15th Edition with its Latest iGaming and Land-based Products
