Acquihire of Demagic Games
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO OR FOR THE ACCOUNT OR BENEFIT OF US PERSONS, AS DEFINED IN REGULATION S PROMULGATED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US SECURITIES ACT"), OR IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
11 April 2022
tinyBuild, Inc
("tinyBuild" or the "Company")
Acquihire of Demagic Games
tinyBuild, a premium video games publisher and developer with global operations, is pleased to announce the acquihire of Demagic Games, a development studio with 23 staff[1] currently based in Ukraine and Russia. The Company has been working with Demagic Games for over a year on various projects including Hello Neighbor 2, unannounced titles, and more recently Deadside.
By bringing Demagic Games in-house, the Company expects to reduce dependencies on external studios and increase visibility on the production process, in line with its core strategy. The small acquihire will have no material impact on the Company's earnings.
Admission and Total Voting Rights
As part of the initial consideration on signing, the Company will issue 621,006 New Common Shares of $0.001 each in the Company ("New Common Shares") at a price of 194.13p per New Common Share. The New Common Shares will be subject to a 12 month lock up period and rank pari passu in all respects with the existing Common Shares of the Company. 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 14 April 2022. Following Admission, the total number of voting rights in the Company will be 203,528,087 and shareholders may use this figure 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 Company under the FCA's Disclosure Guidance and Transparency Rules.
Alex Nichiporchik, Chief Executive Officer of tinyBuild, commented:
"We are delighted to announce our first acquihire this year, and to extend to all Demagic staff our support to alleviate the challenges of the ongoing conflict in Ukraine. Demagic has already made a strong contribution to the development of Hello Neighbor 2 and it brings a highly skilled porting team."
"Our goal is to expand and diversify our position as a 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."
For further information, please contact:
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tinyBuild, Inc Alex Nichiporchik - Chief Executive Officer and co-founder Luke Burtis - Chief Operating Officer and co-founder Antonio Jose Assenza - Chief Financial Officer Giasone (Jaz) Salati - Head of M&A and IR
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investorrelations@tinybuild.com
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Berenberg (Nominated Adviser and Sole Broker) Ben Wright, Mark Whitmore, Ciaran Walsh, Milo Bonser |
+44 (0) 20 3207 7800 |
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SEC Newgate (Financial PR) Robin Tozer, Bob Huxford, George Esmond
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tinybuild@secnewgate.co.uk +44 (0)7540 106366
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About tinyBuild:
Founded in 2013, tinyBuild (AIM: TBLD) is a global video games publisher and developer, with a catalogue of more than 70 premium titles across different genres. tinyBuild's strategy is to focus on its own intellectual property (IP) to build multi-game and multimedia franchises, in partnership with developers.
tinyBuild is headquartered in the USA with operations stretching across the Americas and Europe. The Group's broad geographical footprint enables the Company to source high-potential IP, access cost-effective development resources, and build a loyal customer base through its innovative grassroots marketing.
tinyBuild was admitted to AIM, a market by the London Stock Exchange, in March 2021.
For further information, visit: www.tinybuildinvestors.com .
[1] Staff includes both employees and independent contractors
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