Setterwalls has advised Thunderful Group AB (publ) in connection with a directed new share issue and extension of the company’s revolving credit facility

Setterwalls has advised Thunderful Group AB (publ) in connection with a directed new issue of SEK 50 million to the French company Atari SA and in connection with the renegotiation and extension of the company’s credit facility.

Thunderful Group AB (publ) (“Thunderful”) announced on 29 July its intention to implement a restructuring and recapitalisation to reduce its cost base with the aim of improving its operating cash flow. As part of the restructuring and recapitalisation, Thunderful has carried out a directed new share issue of SEK 50 million to the French company Atari SA. Atari SA is a gaming company with an operational history dating back to 1972, which has become the majority owner of Thunderful through the share issue.

Thunderful has also entered into an extension agreement with Danske Bank. The extension agreement entails that Thunderful will retain a large portion of its approved operating credit with a deferred maturity date.

Setterwalls has acted as legal advisor to Thunderful Group AB (publ) throughout the entire process.