Investor converts bonds into stocks. Vivid Games will conduct private share issues.
Vivid Games' private issue will be directed to one of the main bondholders and a member of the Supervisory Board - Wojciech Humiński, who invested PLN 1 million into a company last year. Bonds held by the Investor will be converted into shares.
Pursuant to the resolution of the management board, shares will be issued with the exclusion of the pre-emptive rights of the existing shareholders,, with the issue price of PLN 1.46. After their acquisition, Wojciech Humiński's share in the company's capital will increase to almost 3.5%.
“Mr. Humiński has been supporting the company for a long time. He has one of the largest bond packages. He believes in Vivid Games' potential and invested about PLN 1 million in us last year. Moreover, he joined the Supervisory Board. The conversion of his bonds into Vivid Games shares is profitable for us. It will reduce the amount of quarterly installments and interest paid to Bondholders under the arrangement." - emphasizes the president of Vivid Games, Jarosław Wojczakowski
The financial situation of Vivid Games is improving month by month, which results, among others, in repayment of bond arrangement installments faster than required by the schedule. If the dynamics of revenues from recent months continues, which may be confirmed by the published preliminary results for January, it’s allowed to be optimistic about the current year.
The company also confirmed the premieres of more titles from the mid-core segment. Right Swipes will go to global distribution in Q2, and Mythical Showdown will debut on iOS and Android at the turn of Q2 and Q3. The cooperation with Qubic Games will soon result in several more premieres on Nintendo Switch, among which the most anticipated is the premiere of Real Boxing 2 - the biggest hit of Vivid Games announced by Qubic Games for the second quarter of this year.