Key points:
- High Roller closed its IPO with gross proceeds of $10m
- The $10m figure is before any expenses deductions
- Proceeds from this will be used for new user acquisition as High Roller expands to North America and other regulated markets
High Roller Technologies has closed its initial public offering of 1,250,000 shares of its common stock at a public offering price of $8.00 per share, for gross proceeds of $10m.
This $10m figure is prior to any underwriting discounts and offering expenses being deducted from the total.
High Roller is the operator of two online casinos, High Roller and Fruta, with players worldwide.
The Form S-1 was filed with the Securities and Exchange Commission (SEC) on 22 October and ThinkEquity acted as the sole book-running manager.
Underwriters will have an additional 45-day option to access and purchase up to 187,500 shares of common stock to cover over-allotments at the initial public offering price.
Good to Know: High Roller began trading on the NYSE market under the ticker symbol ROLR
The operator has revealed that it intends to use the proceeds from this IPO to focus on the future of the business.
High Roller will focus on new user acquisition as it expands into North America and potentially other regulated markets.
The business also plans to launch at least one more brand or vertical.
In other financial news, Evolution has posted its Q3 results revealing a 27.9% increase in operating revenue year-over-year to €579m ($626.8m), alongside increases in both profits and EBITDA.
