Date: 08.12.2023

by Antoni Majewski

Jonas Warrer Petersen Holding Increases Stake in GiG

Jonas Warrer Petersen Holding ApS, a company owned by Jonas Warrer, the Acting Group CEO and primary insider of Gaming Innovation Group Inc. (GiG), has recently made a significant investment in GiG.

The purchase of 270,000 shares at a price of NOK 30.00 per share marks a substantial increase in Warrer’s stake in the company. Following this transaction, Jonas Warrer, along with his close associates, now collectively hold 670,886 shares in GiG, in addition to Warrer’s personal holding of 60,000 options in the company.

Gaming Innovation Group Plc.’s New Bond Issue

In a parallel financial move, Gaming Innovation Group Plc., a wholly owned subsidiary of Gaming Innovation Group Inc., has successfully completed a major bond issuance. This issuance includes senior secured bonds amounting to EUR 75 million, divided into a EUR 45 million tranche and a SEK 350 million tranche, with a combined borrowing limit of EUR 100 million equivalent.

Strategic Deployment of the Raised Capital

The net proceeds from this bond issue are earmarked for several key purposes. Primarily, these funds will be used to fully call the existing SEK 550 million bond, including the call premium. Additionally, a portion of the capital will be allocated towards partially financing the acquisition of KaFe Rocks, a significant move in GiG’s expansion strategy. The remaining funds are designated for general corporate purposes, ensuring financial flexibility for the company.

Future Plans for the Bond

There is an impending application for the new bond to be listed on both the Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market. This move indicates GiG’s commitment to increasing its presence and accessibility in the global financial markets.

The transaction has been well received by investors from various regions including the Nordics, continental Europe, and the US. Both existing and new investors have shown interest in the placement. ABG Sundal Collier and Pareto Securities have played pivotal roles as joint managers and bookrunners in the placement of this new bond issue.

Our Comment on the Article

The recent strategic moves by Jonas Warrer Petersen Holding and Gaming Innovation Group Plc. reflect a confident and forward-looking approach in the gaming industry. Jonas Warrer’s increased investment in GiG signifies not only personal confidence in the company’s future but also reinforces the stability and growth potential of GiG.

Furthermore, the successful bond issuance by GiG’s subsidiary, aimed at funding key strategic initiatives, highlights the company’s proactive financial management and its commitment to long-term growth. These developments are indicative of GiG’s robust position in the market and its readiness to capitalize on emerging opportunities in the gaming sector.