Gaming company Crunchfish raises SEK 45M in more funding just before its public listing on Stockholm Stock Exchange from Nov 2016.

digital.di.se
Sweden Investments 07 October 2016
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At the total value of issued shares of SEK 45M, Handelsbanken Svenska Småbolagsfond contributed with 10M and the existing shareholders with 8.5M.

The press release, google translated, below:

Press release, Malmö, October 7, 2016 - Crunchfish Sweden AB (publ) ( "Crunchfish" or the "Company") and the Company's principal owner has decided to broaden the ownership of Crunchfish shares (the "Offer"). The Board of Crunchfish in connection with this applied for listing of the Company's shares on Nasdaq First North.

Crunchfish develops software that create new interaction possibilities with consumer electronics. The company's product Touchless A3D® makes it possible to control consumer electronics with gestures. Through the built-in standard camera in a mobile phone or tablet interprets software hand gestures and then connect them to different commands to answer an incoming call, take a photo or interaction for Augmented Reality ( "AR") and virtual reality ( "VR").

The Board of Crunchfish has decided to apply for the admission to trading of the shares of Crunchfish on Nasdaq First North. Provided the application is approved, is expected first day of trading incident 11 November 2016. A condition of the listing is to spread requirement is fulfilled by the Offer.
 
Offer
The offer is aimed at the general public in Sweden and comprises 4,000,000 newly issued shares in Crunchfish. At full subscription of new shares into the Company of SEK 60 million before issue costs.
The price per share amounts to SEK 15 per share, representing an enterprise value of SEK 166 million before issue.
The issue is guaranteed through subscription commitments for 45 million (75%) of existing and new shareholders.
Convertible bonds with a value of 5.25 million converted to the same terms as the offer.
The application period runs from October 17 to October 28, 2016.
A prospectus with the full terms are scheduled to be published October 14, 2016 on the Company's website www.crunchfish.com. In connection with the publication of the prospectus is also published application forms and summary of the prospectus on the Company's website.
Preliminary first day of trading on Nasdaq First North is 11 November 2016.
 
"The emergence of AR / VR industry is the biggest tech trends today. Crunchfish technology world-class necessary components for this megatrend. We look forward to get access to the Swedish and international capital markets, which will enable us to take advantage and accelerate the potential of our leading market position. ", Says Joachim Samuelsson, principal owner and chairman of Crunchfish.
 
Background and reasons for listing on the Nasdaq First North
Humans have always gesticulating with his hands to communicate with each other. Advanced image processing technology now allows for the electronics to understand gestures and translate them into control commands. With gesture control occurs exciting interaction possibilities because you can remotely control electronic devices without touching them. The software technology Crunchfish develops and delivers create new interaction possibilities with consumer electronics.

Each year, sold billions of consumer electronics products equipped with a camera which allows gesture control to a possible form of interaction. Independent market reports indicate that the gesture control will turn on a broad basis in the short and predicts volumes of several billion devices with the technology. Foremost is the mobile phone that is expected to offer gesture control in large volumes. Growth is being driven partly by 3D cameras will be integrated into the products, which provide higher performance for gesture control, but even that gesture control is the natural way to interact with VR and AR.

Crunchfish is excellent positioned to both drive and benefit from this market development.

The offer is aimed at ensuring resources for product development, marketing and strengthening the company's financial position.
 
Subscription Commitment
A total of 25 new and existing shareholders in the Offer undertaken to subscribe for shares for $ 45 million. Handelsbanken Swedish Small Cap Fund is the largest single subscription based plan owners and has undertaken to subscribe for shares corresponding to 10 million. Existing shareholders have undertaken to subscribe for shares for a total of 8.5 million in the Offer. In addition, existing shareholders in connection with the listing to convert outstanding convertible 5.25 million to the same conditions as the other shareholders in the Offer.
 
Advisor
Western Harbour Corporate Finance is acting as financial advisor to Crunchfish in connection with the Offer. Setterwalls has acted as legal advisor. Later Fondkommission is Certified member and Aktieinvest FK act issuing institution.
 
For more information, please contact
Joachim Samuelsson, principal owner and chairman of Crunchfish
Phone: 070-848 47 88
E-mail: joachim.samuelsson@crunchfish.com

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