RNS Number : 1516J
19 August 2021
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19 August 2021
("tinyBuild" or the "Company")
Acquihire of Animal (Rawmen)
tinyBuild, a leading video games publisher and developer with
global operations, is pleased to announce the acquihire of
development studio, Animal. The Company has been working with
Animal for two years, developing Rawmen, a light-hearted,
multiplayer arena shooter where players use food as a weapon to
In Rawmen, up to eight players battle alongside or against each
other in various battle modes, including quickplay to fight off
'soupsters' from around the world or private games where players
can get messy with friends.
The consideration for the acquihire includes both upfront and
deferred payments over the following three calendar years, up to a
max of $10.2 million, split approximately 30%-70% between cash and
newly issued tinyBuild shares, subject to stretched operational
targets being met. The game is still under development, and it will
be slightly accretive in 2021.
It is core to tinyBuild's strategy to elevate core franchises
from third-party, to first and second party. By bringing Animal
in-house, the Company expects to create value for shareholders,
while high visibility on platform revenues helps reduce execution
Alex Nichiporchik, Chief Executive Officer of tinyBuild,
"As a public company, we have an even more powerful platform
from which we can deliver on our organic and M&A growth
ambitions. We are delighted to announce the acquisition of Animal,
our fourth acquihire this year, as we continue to scale up our
ambitions. Our experience of working with the studio over the last
two years means we know they are going to be a great addition to
the tinyBuild family."
"Our goal is to expand our position as a leading global
developer and publisher, focusing on IP ownership while creating
long-term scalable franchises across multiple media formats. In
addition, we are looking at a number of other potential acquihires
and larger scale acquisitions to enhance the Company's strategic
and operational position."
Admission and Total Voting Rights
As part of the initial consideration on signing, the Company
will issue 291,959 New Common Shares of $0.001 each in the Company
("New Common Shares") at a price of 223p per New Common Share, and
such shares will be subject to a 12 month lock up period.
Application will shortly be made to the London Stock Exchange
for the admission of the New Common Shares to trading on AIM
("Admission") which is expected to take place on or around 24
August 2021. Following Admission, the total number of Common Shares
and voting rights in the Company will be 202,036,077. The Company
does not hold any shares in treasury.
The above figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
tinyBuild, Inc firstname.lastname@example.org
Alex Nichiporchik - Chief Executive Officer
Luke Burtis - Chief Operating Officer
Antonio Jose Assenza - Chief Financial
Giasone (Jaz) Salati - Head of M&A and
Zeus Capital (Nominated Adviser and Joint
Nick Cowles (Corporate Finance); Benjamin
Robertson (Equity Capital Markets) +44 (0)20 3829 5000
Berenberg (Joint Broker)
Ben Wright, Mark Whitmore, Alix Mecklenburg-Solodkoff,
Milo Bonser +44 (0)20 3207 7800
SEC Newgate (Financial PR) email@example.com
Robin Tozer, Bob Huxford, Megan Kovach +44 (0)7540 106366
Founded in 2013, tinyBuild (AIM: TBLD) is a leading premium
AA-rated and indie video games publisher and developer. tinyBuild
strategically secures access to IP and partners with developers to
establish a stable platform on which to build multi-game and
multimedia franchises. tinyBuild has a strong portfolio of over 40
titles, and its upcoming pipeline includes over 20 new titles
currently in development.
Headquartered in Seattle, Washington, USA, the Company has key
operations worldwide, with employees, contractors or partners in
multiple locations across five continents. tinyBuild's geographic
diversity enables it to source high-potential IP, cost-effective
development resources and a loyal customer base through innovative
tinyBuild was admitted to the AIM index of the London Stock
Exchange in March 2021.
For further information, visit: www.tinybuildinvestors.com .
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(END) Dow Jones Newswires
August 19, 2021 02:00 ET (06:00 GMT)
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