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Regulatory press release

The acceptance period in Atari's Private Offer to the shareholders of Thunderful commences today

Thunderful Group
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Thunderful Group AB (publ) ("Thunderful") has been informed that the acceptance period in Atari SA's ("Atari") private offer (the "Private Offer") to the shareholders of Thunderful commences today, 25 February 2026, and will run up to and including 11 March 2026. The Private Offer is directed solely to the current shareholders of Thunderful. Shareholders who wish to accept the Private Offer must take action and actively accept the Private Offer during the acceptance period. Shareholders who choose not to accept the Private Offer will instead be subject to the compulsory redemption proceedings (Sw. tvångsinlösen) initiated by Atari. The Private Offer enables shareholders to sell their shares to Atari ahead of the compulsory redemption proceedings, a process that generally requires several months to complete.

Summary of the Private Offer

  • Offer price: SEK 0.30 per share
  • Acceptance period: 25 February 2026 – 11 March 2026
  • Settlement: Around 18 March 2026

Background to the Private Offer and commencement of the acceptance period
On 19 December 2025, Thunderful's Board of Directors resolved, subject to approval by an extraordinary general meeting (the "EGM"), to carry out a directed share issue of SEK 35 million in cash to Thunderful's principal shareholder, Atari (the "Share Issue"). The Share Issue comprised 350,000,000 new shares issued at a subscription price of SEK 0.10 per share. On 26 January 2026, the EGM approved the Share Issue, resulting in Atari increasing its shareholding in Thunderful from approximately 81.7 percent to approximately 90.2 percent.

In connection with the announcement of the Share Issue, Atari confirmed its intention, following the delisting of Thunderful, to submit a private offer to Thunderful's shareholders whereby Atari would offer to acquire the shares not already held by Atari at a price of SEK 0.30 per share.

Atari has informed Thunderful that the acceptance period in the Private Offer commences today, 25 February 2026.

Shareholders whose shares are nominee‑registered in the share register maintained by Euroclear Sweden must submit their acceptance through their respective nominee and in accordance with the nominee's instructions, while shareholders who are directly registered must submit a separate acceptance form. Further instructions are provided in the information memorandum prepared by Atari.

Information memorandum
Atari has prepared an information memorandum regarding the Private Offer, which is available on Thunderful's website (https://thunderfulgroup.com/investor-relations/private-offer). The information memorandum contains the full terms and conditions of the Private Offer as well as detailed instructions for how Thunderful's shareholders may accept the Private Offer.

Important information
This contents of this press release has been prepared by Atari SA, corporate registration number (SIREN) 341 699 106 ("Atari"), in connection with a private offer to the shareholders of Thunderful Group AB (publ) ("Thunderful"), pursuant to which Atari offers to acquire all outstanding shares in Thunderful not already held by Atari at a purchase price of SEK 0.30 in cash per share (the "Private Offer").

Restrictions applicable to the Private Offer
The Private Offer is strictly limited to the shareholders of Thunderful. The Private Offer is being made exclusively to such shareholders, in their capacity as existing shareholders of Thunderful, and may not be accepted by, or distributed to, any other person. No person other than a current shareholder of Thunderful is eligible to participate in the Private Offer.

This press release is solely provided for the purpose of providing information to Thunderful's shareholders in connection with the Private Offer and does not constitute, and shall not be construed as, a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation").

The Private Offer does not constitute (i) an offer to the public, (ii) an offer requiring the publication of a prospectus under the Prospectus Regulation, (iii) a solicitation to subscribe for, purchase, sell or otherwise trade in securities to any person other than the shareholders of Thunderful, or (iv) a marketing communication relating to any public offering. This information contained in this press release may not be distributed, reproduced or used for any purpose other than evaluating whether to accept the Private Offer.

The Private Offer may be subject to legal restrictions in jurisdictions other than Sweden. Any person into whose possession this information comes is required to inform themselves of, and comply with, such restrictions. Neither Thunderful, Atari nor any of its representatives accepts any responsibility or liability for any violation by any person of any such restrictions.

Atari reserves the right, to the extent permitted under applicable laws and regulations, to acquire or agree to acquire shares in Thunderful outside the Private Offer. Any such acquisitions will be made at prices not exceeding SEK 0.30 per share, being the consideration offered under the Private Offer.

No reliance and no representations
Neither Thunderful, Atari nor any of its affiliates, advisers or representatives makes any representation or warranty, express or implied, as to the accuracy, completeness or fairness of the information contained in this information. Nothing in this information shall be construed as legal, financial, tax or investment advice. No person has been authorized to provide any information or make any statements concerning the Private Offer other than as contained herein, and any reliance on information not contained in the Information Memorandum shall be at the shareholder's own risk.

This information is provided as of the date hereof, and neither Thunderful, Atari nor any of its representatives undertakes any obligation to update, revise or supplement such information, except as required under applicable law.

Investment information
Each shareholder of Thunderful should make an independent assessment of the Private Offer and any decision to accept the Private Offer should be made solely on the basis of such assessment. Shareholders are urged to consult their own professional advisers, including with respect to the legal, financial and tax consequences of accepting the Private Offer, and to carefully consider the merits and risks of participation.

For more information, please contact:
Mikael Falkner, Interim CEO and CFO, Thunderful Group, +46 760 35 64 34
Patrick Svensk, Chairman of the Board, Thunderful Group, +46 708 66 07 30

About Thunderful Group
Thunderful Group is focused on publishing and developing high-quality digital games for PC and console platforms. Headquartered in Gothenburg, Sweden, Thunderful Group spans a significant part of the gaming industry value chain through its two main business segments: Publishing and Co-Development & Services. These segments work together to develop, market, and support a diverse portfolio of gaming experiences.

Attachments
The acceptance period in Atari's Private Offer to the shareholders of Thunderful commences today

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