Acroud raises SEK75m to fund M&A strategy

Stockholm-listed iGaming affiliate Acroud has strengthened its financial position through a directed share issue, raising SEK75m (€7.4m) to fund future acquisitions.

The directed share issue of 35,294,118 shares was completed at a price of SEK2.55 per share, amounting to SEK90m in allocated demand.

Acroud recently completed the acquisition of a fast-growing sports betting lead generation company and signed a Letter of Intent regarding the acquisition of the iGaming assets of PMG Group.

“The company sees a growing list of acquisition targets, which are actively being reviewed and assessed,” said Acroud. “The share issue will enable the company to act fast when attractive opportunities emerge and further strengthens the company’s financial position.”

Shares in Acroud AB (STO:ACROUD) were trading 1.83 per cent higher at SEK2.78 per share in Stockholm Thursday morning.