Gambling.com completes €16m funds drive
Digital marketing and affiliate network Gambling.com has announced the completion of its 2017 fundraising plan, having raised a total of €16m.
The company have confirmed that the proceeds are intended to be used primarily for acquisitions.
Along with the first convertible bond issued in February, the group has now raised a total of €16m during 2017 and has achieved its original fundraising target for the year.
This latest bond has a final maturity of July 2020 and bears a fixed rate coupon of 10.00%. It will automatically convert to equity, at a discount, during a change-of-control event or an initial public offering (IPO) of the company.
The bond will be affiliated to Euroclear Sweden and any conversion to equity during a prospective IPO will be processed by Euroclear. The bond will mark the first time that Euroclear Sweden has affiliated a convertible bond from a non-Swedish issuer.
Forty-six different investors participated in the issue with the funds mainly coming from investors based in Sweden. The group have confirmed that the bond issue was fully subscribed.
Charles Gillespie, Gambling.com Group Chief Executive commented: “2017 has been a tremendous year for Gambling.com Group. We have executed on all our plans and are pleased to have a fully subscribed offering for our second convertible bond. We look forward to deploying this cash on strong acquisitions with additional growth potential. 2018 is shaping up to be very exciting indeed.”
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