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8 June 2021
("tinyBuild" or the "Company")
Acquihire of DogHelm (Streets of Rogue)
We are delighted to announce the acquihire of DogHelm and to welcome Matt Dabrowski, the developer of Streets of Rogue into the tinyBuild family. We have been working with Matt for half a decade now on his title, which is the highest rated title in tinyBuild's portfolio, based on Steam users.
Streets of Rogue is a rogue-lite about player choice, freedom, and anarchic fun. The game is set in a functioning, procedurally generated city, where complex AI informs denizens from all walks of life, who are just trying to get by in their daily activities. In order to progress, the player will need to accomplish specific mission goals in any way they see fit through use of their special character traits, items, and the environment.
The consideration will include both upfront and deferred payments over the following three calendar years, up to $6.5m, split approximately fifty-fifty between cash and newly issued tinyBuild shares, subject to certain operational targets being met. As part of the consideration, the Company will issue 166,204 New Common Shares of $0.001 each in the Company ("New Common Shares") at a price of 254p per New Common Share, and such shares will be subject to a 12 month lock up period. The deal will be slightly accretive in 2021.
It is core to tinyBuild's strategy to elevate core franchises from third party, to first and second party. By bringing DogHelm in-house, we are gearing up for the highly anticipated sequel to Streets of Rogue. This is a really exciting development which we will update on in the near future.
Alex Nichiporchik, Chief Executive Officer of tinyBuild, commented:
"We are delighted to announce the first deal following our successful listing on AIM earlier this year. As a public company we have an even more powerful platform from which we can deliver on our organic and M&A growth ambitions.
"Our goal is to expand our position as a leading global developer and publisher, focusing on IP ownership while creating long-term scalable franchises across multiple media formats. We are actively looking at a number of potential acquihires and larger scale acquisitions to enhance the company's strategic and operational position.
"Today we also announce our full year results for the year ended 31 December 2020. The continued strength of our back catalogue and promising start of some new titles make us confident we will deliver results at least in line with expectations."
Admission and Total Voting Rights
Application will shortly be made to the London Stock Exchange for the admission of the New Common Shares to trading on AIM ("Admission") which is expected to take place on or around 14 June 2021. Following Admission, the total number of Common Shares and voting rights in the Company will be 201,744,118. The Company does not hold any shares in treasury.
The above figure may be used by shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their interest in, or a change to their interest in,
the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Alex Nichiporchik - Chief Executive Officer and co-founder
Luke Burtis - Chief Operating Officer and co-founder
Antonio Jose Assenza - Chief Financial Officer
Giasone (Jaz) Salati - Head of M&A and IR
Zeus Capital (Nominated Adviser and Joint Broker)
Nick Cowles, Richard Darlington, Daniel Harris (Corporate Finance); Benjamin Robertson (Equity Capital Markets)
+44 (0)20 3829 5000
Berenberg (Joint Broker)
Ben Wright, James White, Alix Mecklenburg-Solodkoff,
+44 (0)20 3207 7800
Yellow Jersey PR (Financial PR)
+44 (0)774 778 8221
+44 (0)776 932 5254
Founded in 2013, tinyBuild (AIM: TBLD) is a leading premium AA-rated and indie video games publisher and developer. tinyBuild strategically secures access to IP and partners with developers to establish a stable platform on which to build multi-game and multimedia franchises. tinyBuild has a strong portfolio of over 40 titles, and its upcoming pipeline includes over 20 new titles currently in development.
Headquartered in Seattle, Washington, USA, the Company has key operations worldwide, with employees, contractors or partners in multiple locations across five continents. tinyBuild's geographic diversity enables it to source high-potential IP, cost-effective development resources and a loyal customer base through innovative grassroots marketing.
tinyBuild was admitted to the AIM index of the London Stock Exchange in March 2021.
For further information, visit: www.tinybuildinvestors.com.