Nordic Games is a publisher known for its acquisitions of video game series and studios, one of the most notable being THQ after its bankruptcy. Since dubbed THQ Nordic, the comapny has announced that it has raised $168 million from issuing its shares with plans to bolster its line-up once again.
Led by Carnegie Investment Bank, the publisher managed to issue 7.7 million Class B shares at $21.85 each during an accelerated book-building procedure, designed to “raise capital in a time efficient manner.”
While it’s obvious that a publisher built from the compiling of studios would invest this money into the acquisition of new franchises and game development studios, THQ Nordic has stated that it intends to also prioritise “other objectives which complement the operations, and enable higher rate of investment in the development of the company.” It is unclear what these objectives are at this stage.
The distribution of 7.7 million shares brings the total outstanding shares and votes up to 88 million and 169 million respectively, while CEO Lars Wingefors and CFO Erik Stenberg have agreed not to sell their shareholdings for the 180-day lock-up period.
THQ Nordic’s latest purchase took place earlier this year, when the publisher acquired Koch Media $148.9 million. Interestingly, this includes Saints Row and Dead Island publisher Deep Silver, which in itself gained control of developer Volition when THQ went bankrupt. THQ Nordic’s purchase of Koch Media marks the reunification of the original developers, now rebranded under Deep Silver’s moniker, with their Red Faction and Summoner IPs.
KitGuru Says: It will be interesting to see what other purchases THQ Nordic makes as it moves forward. In the meantime, Darksiders III and Biomutant are hotly anticipated titles confirmed as in development. Are you looking forward to what THQ Nordic has in store?