Bragg Gaming Group Secures $7 Million Note Financing
Bragg Gaming Group has announced the issuance of a secured promissory note worth US$7 million. This move is set to boost the company’s balance sheet and provide greater flexibility in pursuing its ambitious goals.
Strategic Financial Leveraging
The secured note, carrying an interest rate of 14% per annum payable quarterly, represents a proactive approach by Bragg to strengthen its financial position.
The arrangement was facilitated with the cooperation of The Lind Partners, who provided a waiver consenting to the funding of the note. This financial maneuver is part of Bragg’s broader strategy to maximize shareholder value while continuing to advance its operational goals.
Growth and Expansion Plans
Matevž Mazij, Chief Executive Officer of Bragg said “This financing provides the Company’s balance sheet with additional flexibility as we continue to review strategic alternatives for maximizing shareholder value and execute against our strategy. We would also like to thank The Lind Partners for their cooperation in providing a waiver consenting to the Note funding”.
Bragg Gaming Group has reported successive years of growth in revenue, gross profit, and Adjusted EBITDA, and the company is now optimally positioned to leverage its sought-after content and technological solutions across key iGaming markets in North America, Europe, and Latin America.
The Toronto Stock Exchange has conditionally approved the issuance of the note, highlighting Bragg’s compliance with necessary regulatory frameworks. The company plans to utilize the net proceeds from the note issuance for general working capital and strategic initiatives, supporting its continued growth and innovation in the iGaming sector.
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