Fantasma closes oversubscribed IPO by 1,269 per cent

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Exciting online slot developer secures £1.8 million in funding ahead of NASDAQ First North debut later this month

Fantasma Games, the developer of innovative slots that go beyond gambling, is thrilled to announce that is has closed its initial public offering (IPO) ahead of making its debut listing on the NASDAQ First North on 23 March.

The initial offer of SEK 21 million (£1.8 million) was significantly oversubscribed with the total subscription amount totalling SEK 216 million (£18.2 million) and corresponding to an unexpected subscription ratio of 1,269 per cent.

Fantasma will add 1,000 new shareholders, with 700,000 shares and 560,000 warrants of series TO1 issued. Around 68% of the offer was submitted by Fantasma’s board and management plus Mangold Fondkommisison AB, Pontus Lindwall, KL Capital AB and Christian Rasmussen.

Björn Kjellsson, CEO Fantasma Games AB, said: “We feel incredibly inspired by the great interest we have seen from investors in our listing issue where more than 4,000 investors have requested subscriptions.

“We would like to thank all investors for the clear trust regarding our business model and strategy, which enables continued expansion and growth for our business.

“Together with the rest of the team at Fantasma, I look forward to bringing both old and new shareholders into the next phase of our development which promises to be incredibly exciting as we take the business to the next level.”

Fantasma Games was founded in 2017 and has quickly become one of the most in-demand slot developers thanks to its philosophy of creating slots beyond gambling and that offer an exceptional one-handed experience when played from mobile.

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.