In no small part, that situation was down to a series of investments intended to diversify the business beyond its reliance on Payday 2, which failed to return positive results - the poor performance of The Raid: World War II and Overkill's The Walking Dead were pivotal in that respect. Starbreeze is going through a Reorganisation Plan following a difficult period in which the it came close to financial ruin. "We see it as a positive confirmation of our actions."Īccording to Starbreeze, the net proceeds from the shares is "intended to be used solely for the Company's operations - to create games with Payday 3 in focus." "This share issue is an important part of the company's execution of the Reorganisation Plan and a part of the financing of the operations," said Torgny Hellström, chairman of the Starbreeze board of directors, in a statement.
The First and Fourth AP Funds are managed by the Swedish government, with funds from the national pension system.Īfter the transaction completes, the new shares will represent 9.1% of holdings in Starbreeze, and 29% of the voting rights - a significant influence on the future direction of the company.
The main subscribers to the share issue are all Swedish institutional investors: Swedbank Robur, the First AP fund and the Fourth AP fund. Starbreeze has raised more than $5 million to fund the development of games, with the production Payday 3 a significant factor behind doing so.Īccording to an official filing today, the Swedish company has issued more than 32.9 million new class A shares, the sale of which will raise SEK 51.3 million ($5.23 million).
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