Stock offerings and NewConnect listing

In 2010-2011, for the newly established video game developer, 11 bit studios S.A., we conducted private placements of shares worth more than PLN 1 million. Subsequently, we organized another private placement of shares worth PLN 2.7 million and floated the Company’s shares on the NewConnect and served as the Company’s Authorized Adviser.

11 bit studios S.A. is a Polish developer of computer games sold worldwide, operating since 2009. The company develops games for consoles, computers, and mobile devices. The high quality of 11 bit studios’ games is confirmed by the numerous international awards they have won, positive reviews and prizes, including the Apple Design Award, given to the best mobile applications available in the App Store. 11 bit studios became popular with This War of Mine, which received more than 100 awards worldwide. The game recorded impressive sales results – its production costs paid off within the first weekend after its release. Another success was the game Frostpunk, which was released in 2018, when the company recorded revenues of PLN 82 million this year. Titles developed by 11 bit studios are very well received, which resulted in receiving a sizable number of awards, including Apple Design Award, Best of PAX, Independent Games Festival Audience Award, SXSW Matthew Crump Cultural Innovation Award, as well as Games4Change Best Gameplay, and People’s Choice Award.

Deal timeline

September 17, 2010: the private placement for institutional and individual investors closed, raising more than PLN 0.7 million for the company.
September 17, 2010: subscriptions exceeded the originally planned issue size by about 10%.
October 28, 2010: the company’s shares debuted on NewConnect.
October 28, 2010: the opening price on the first trading day was PLN 3.75, 95.31% above the issue price of PLN 1.92.

Service: NewConnect projects

Client:

11 BIT STUDIOS S.A.