Amsterdam-based Azerion, a digital advertising and entertainment media platform, announced the successful placement of a subsequent bond issue totaling €50M on Thursday, June 20.
This issuance was made under the Company’s existing senior secured floating rate bond framework of €300M.
After the completion of the Subsequent Bond Issue, the outstanding aggregate principal amount under the Bonds will be €215M.
The offering saw high demand from institutional investors primarily based in the Nordic markets, Europe, and the U.S., and was priced at 100.75 per cent of par.
The Dutch company will use the funds to finance its general corporate purposes, including capital expenditure, acquisitions, and transaction costs.
Settlement of the Subsequent Bonds is expected to be on or about 5 July 2024.
Ben Davey, CFO of Azerion says, “We are delighted with the successful subsequent bond issue and the strong support received from existing and new bond investors across the Nordics, Europe, and the U.S. The proceeds received will support our continued focus on growing our Platform and the execution of our strategy.”
The announcement comes over a year after Autoriteit Financiële Markten (AFM), the financial services regulatory authority for the Netherlands, launched an investigation focusing on irregularities in the trading of Azerion shares.
Azerion: Digital entertainment and media platform
Founded in 2014 by Dutch entrepreneurs Umut Akpinar and Atilla Aytekin, Azerion claims to have built an ecosystem that combines content, technology, and data for publishers, advertisers, and consumers.
The company’s platform provides technology solutions to automate the purchase and sale of digital advertising for media buyers and sellers, supported by in-market sales and campaign management teams.
The Dutch firm generates revenue in two ways – through advertising spend across its platform and through in-game purchases across its premium games (approx 22 per cent of 2020 reported revenue), with additional revenue coming from AAA game distribution.
It has already developed more than 16,000 game titles with over 425 million monthly active users.
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