Adventure Box Technology AB (publ) ("Adventure Box" or the "Company") has successfully completed a rights issue of approximately SEK 13.1 million before issuance costs (the "Rights Issue"). The Company had received guarantee commitments totaling approximately SEK 13.1 million, corresponding to 100 percent of the Rights Issue volume. The proceeds from the Rights Issue are primarily intended to secure the Company's long-term operations and development.
The full press release from Adventure Box can be found here.
Adventure Box is a technology company developing innovative sharing platforms for computer games. The Company offers the platform KoGaMa, which allows users to create, share, and explore 3D-based multiplayer games without requiring coding skills. KoGaMa provides a digital ecosystem where users can subscribe to games and services. The Company's patented, world-leading technology has broad applications across various industries. In addition to its platform, Adventure Box offers technology licensing and consulting services.
The global market in which the Company operates is growing rapidly and is expected to continue expanding in the coming years. Today, the market is estimated to be worth approximately USD 222 billion and is projected to reach USD 652 billion by 2032, according to Expert Market Research.
Adventure Box is now taking the next step in its strategic growth by signing a letter of intent to acquire Lion Gaming Group Inc. ("Lion"). With a projected revenue of approximately USD 33 million and an EBITDA of approximately USD 17 million in 2024, this acquisition marks the beginning of a major expansion for Adventure Box, forming a new large-scale gaming company prepared for the global iGaming market.
The Rights Issue has enabled the Company to secure financing for the acquisition of Lion, broadening its reach within the gaming ecosystem and introducing new revenue streams. Additionally, the capital raised will support the continued development of KoGaMa’s patented platform, further refine and expand Adventure Box’s technology and gaming platform, and ensure the Company’s financial stability and operational growth for the future.
Adventure Box Technology offers KoGaMa, an online game creation platform that provides user-friendly tools for developing and sharing unique gaming experiences. With its innovative multiplayer editor and thriving user marketplace, KoGaMa enables users to collaborate, create, and customize content within a dynamic social metaverse. The Company’s world-leading streaming technology is patented.
Founded in Stockholm in 2014, Adventure Box now has employees in Seville, Copenhagen, and Madrid.
Corpura acted as financial advisor in connection with the Rights Issue.
For more information contact:
Alexander Kangas
+46(0)72-252 34 51
alexander.kangas@corpura.se
