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THQ Nordic issues new shares to raise $225 million for future acquisitions

THQ Nordic issues new shares to raise $225 million for future acquisitions

February 21, 2019 | By Chris Kerr

February 21, 2019 | By Chris Kerr
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More: Business/Marketing

Swedish publisher THQ Nordic has raised SEK 2.1 billion ($225 million) by issuing 11 million new Class B shares.

The new shares were valued at around SEK 190 ($20.3) per item, and were snapped up by existing investors and newcomers like First National AP Fund, Second National AP Fund and Odin Fonder.

THQ intends to use the cash to finance the acquisition of more franchises, game studios, and other assets that complement the company's wider operations. 

As has become clear in recent months, the company has no qualms when it comes to spending, and just last week dropped $37.5 million on Kingdom Come: Deliverance developer Warhorse Studios. 

Prior to that, it acquired Australian publishing partner 18Point2, Goat Simulator developer Coffee Stain Studios, and Wreckfest creator Bugbear Entertainment. 

It's also been splashing the cash on notable franchises like Kingdoms of Amalur, Alone in the Dark, Timesplitters, Outcast, and Carmageddon.

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