The Nasdaq First North Growth Market has been notified by the Scout Gaming Group about its intention to delist from the exchange following the sale of Scout’s entire operating facility to an company called ImpactWin.
Scout sold its subsidiary, Scout Holding Ltd, in an all-stock transaction which was valued at SEK25 million ($2.28 million). Instead of cash, Scout received over 10.5 million newly issued shares in ImpactWin, representing approximately 15.2% of the combined entity’s total share capital.
All assets were subsequently sold off and as there are no assets to remain, shareholders voted for the cancellation of the class of shares from trading as part of a special general meeting held on 30th March 2023. The next step for the company is to return the shares received to stockholders by way of a distribution of shares in ImpactWin prior to commencing voluntary liquidation procedures.
This transaction has been a low-key exit from the market for Scout Gaming who has been negatively impacted by declining revenues with declining share prices over the past several months.
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