DLA Piper advises Stillfront Group AB on the acquisition of Storm8, Inc. and in connection with the raising of new financing

DLA Piper has advised Stillfront Group AB (publ) (“Stillfront”), a global market leader in free-to-play online games, in connection with its acquisition of Storm8, Inc. (“Storm8”), for an upfront consideration of USD 300 million, on a cash and debt free basis, which was paid in part in cash and in part in newly issued shares in Stillfront. Storm8 is a leading mobile mash-up game developer headquartered in California. In connection with its acquisition of Storm8, Stillfront raised SEK 1.3 billion before transaction costs through a new issue of shares in Stillfront directed towards Swedish and international institutional investors, successfully issued SEK 500,000,000 of subsequent bonds under the SEK 1,000,000,000 framework of its 2019/2024 senior unsecured bond loan and secured a new SEK 1,600 million revolving credit facility with a tenor of 3.5 years from Nordea Bank Abp, filial i Sverige and Swedbank AB (publ). 

The DLA Piper team comprised lawyers across Sweden and the US. The team was lead by Stockholm based Peter Ihrfelt, Peder Grandinson, Emma Norburg and Carl Schwieler, together with US based Tami Howie, Rick Marks, Kristen Bandura, Charles Bell and Nia Brown. Carnegie Investment Bank AB (publ) acted as financial advisor in relation to the acquisition and Sole Global Coordinator and Joint Bookrunner with respect to the accelerated bookbuilding and Nordea Bank Abp, filial i Sverige and Swedbank AB (publ) acted as Joint Bookrunners in relation to the accelerated bookbuilding. In connection with the issue of subsequent bonds, Carnegie, Nordea and Swedbank acted as Joint Bookrunners.

Read more here:

https://www.stillfront.com/en/stillfront-group-completes-the-acquisition-of-storm8-inc/

https://www.stillfront.com/en/stillfront-group-acquires-storm8-inc-and-raises-new-financing/