The proceeds are intended to be used primarily for acquisitions. Along with the first convertible bond issued in February, the Group has now raised a total of EUR 16.0m during 2017, achieving its original fundraising target for the year.
The bond has a final maturity of July 2020 and bears a fixed rate coupon of 10.00%. It will automatically convert to equity, at a discount, during a change-of-control event or an initial public offering (IPO) of the company. The bond will be affiliated to Euroclear Sweden and conversion to equity during an IPO will be processed by Euroclear. The bond will mark the first time that Euroclear Sweden has affiliated a convertible bond from a non-Swedish issuer.
Forty-six different investors participated in the issue with the funds mainly coming from investors based in Sweden. The issue was fully subscribed.
“2017 has been a tremendous year for Gambling.com Group. We have executed on all our plans and are pleased to have a fully subscribed offering for our second convertible bond. We look forward to deploying this cash on strong acquisitions with additional growth potential. 2018 is shaping up to be very exciting indeed,” said Charles Gillespie, Gambling.com Group Chief Executive.
Carnegie Investment Bank and Redeye acted as joint bookrunners. Fenech & Fenech Advocates, Hutchison PLLC and White & Case Stockholm acted as legal advisors on the transaction regarding Maltese, US and Swedish law, respectively.###
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About Gambling.com Group Plc.
Gambling.com Group Plc is a multi-award winning provider of digital marketing services for the global iGaming industry. Founded in 2006, the group has a workforce of over 80 and operates from offices in Dublin, Tampa, Monaco and Malta. The group publishes websites that offer comparisons and reviews of online gambling websites in 15 national markets in 9 languages. Players use these resources to select which online gambling operators they should trust to offer a safe and honest online gambling experience. The group’s publishing assets include the leading iGaming industry portal, Gambling.com® as well as Bookies.com and the CasinoSource℠ series of portals, among many others.