Atari enters into an agreement to invest in Thunderful Group AB
PARIS, FRANCE (July 29, 2025 - 8.00 am CET) - Atari® (Euronext Growth Paris: ALATA) — one of the world's most iconic consumer brands and interactive entertainment producers — today announces it has entered into a subscription agreement with Thunderful Group AB ('Thunderful', or 'the Company') to participate in a directed share issue of SEK 50.0 million (approximately 4.5 million euros). Thunderful is listed on Nasdaq First North Premier Growth Market in Sweden (ticker: THUNDR), and specialized in game development, third‑party publishing, and co-development services for PC and console platforms. Thunderful encompasses a global games publishing business, five game studios with various creative and technological expertise, and a services business. The Company owns a portfolio of over 20 intellectual properties including SteamWorld, ISLANDERS, Lost in Random, and Vampire's Fall, notably.
Wade Rosen, Chairman and Chief Executive Officer of Atari, SA commented: 'This Transaction marks another important milestone in Atari's development with the expansion of its publishing and development capabilities in the European region. Thunderful is recognized for publishing and developing critically acclaimed games, and with the announced transformation plan, as well as the quality and commitment of Thunderful's teams, we are confident that Thunderful will be returning to a profitable growth path while helping to further develop Atari operations in Europe.'
Transaction summaryUnder the terms of the subscription agreement, Atari will become the owner of approximately 82% of the outstanding shares and votes of Thunderful by way of a directed issuance of 333,333,334 new ordinary shares1 at a subscription price of SEK 0.15, corresponding to a total amount of SEK 50 million (approximately €4.5 million) (the 'Transaction').
The Transaction is subject to approval by Thunderful's shareholders at an extraordinary general meeting (the 'EGM') which will be held on or about August 28, 2025 (the 'EGM').
The Transaction has received unanimous support from Thunderful's Board of Directors, as well as from two of Thunderful's existing largest shareholders, Owe Bergsten and Brjann Sigurgeirsson, who together own 29.9% of the capital and voting rights in the Company. Owe Bergsten and Brjann Sigurgeirsson have irrevocably committed to vote in favor at the EGM of all the proposals and resolutions by the Board of Directors of the Company relating to the Transaction.
To enable Atari to complete the Transaction without being required to make a mandatory bid offer for theremaining shares in the Company under Swedish takeover rules, the Swedish Securities Council (Sw.Aktiemarknadsnämnden) has granted Atari an exemption.
If approved, the Transaction will be financed either with Atari's own resources or with a potential new loan agreement with IRATA LLC, the holding Company of Wade Rosen, Chairman and CEO of Atari, SA.
About Thunderful Group ABThunderful Group AB, listed on Nasdaq First North Premier Growth Market in Stockholm, Sweden (ticker: THUNDR) focuses on the publishing and development of high-quality digital games primarily for PC and console platforms. Headquartered in Gothenburg, Sweden, Thunderful spans a significant portion of the game industry value chain through its two main operating segments: Publishing and Co-Development & Services. For the fiscal year ending December 31st, 2024, the Company reported revenues of SEK292 M (approximately €25M). Thunderful encompasses a global games publishing business, five game studios with various creative and technological expertise, and a services business. The Company owns a portfolio of over 20 intellectual properties including SteamWorld, ISLANDERS, Lost in Random, and Vampire's Fall, notably. Thunderful has also announced today a restructuring plan aiming at reorganizing its publishing and development operations, in view of reducing its cost base and improving operating cash flow.
About ATARI
Atari is an interactive entertainment company and an iconic gaming industry brand that transcends generations and audiences. The company is globally recognized for its multi-platform, interactive entertainment and licensed products. Atari owns and/or manages a portfolio of more than 400 unique games and franchises, including world-renowned brands like Asteroids®, Centipede®, Missile Command®, Pong®, and RollerCoaster Tycoon®. Atari has offices in New York and Paris. Visit us online at www.Atari.com.
Atari shares are listed in France on Euronext Growth Paris (ISIN Code FR0010478248, Ticker ALATA) and OTC Pink Current (Ticker PONGF).
©2025 Atari Interactive, Inc. Atari wordmark and logo are trademarks owned by Atari Interactive, Inc.
Contacts
Atari - Investor RelationsTel +33 1 83 64 61 57 - investisseur@atari-sa.com | www.atari.com/news/
Actus - Marie CalleuxTel +33 1 53 65 68 68 – atari@actus.fr
Listing Sponsor - Euroland CorporateTel +33 1 44 70 20 84 - Julia Bridger - jbridger@elcorp.com
DISCLAIMERThis press release contains certain non-factual elements, including but not restricted to certain statements concerning its future results and other future events. These statements are based on the current vision and assumptions of Atari's leadership team. They include various known and unknown uncertainties and risks that could result in material differences in relation to the expected results, profitability and events. In addition, Atari, its shareholders and its respective affiliates, directors, executives, advisors and employees have not checked the accuracy of and make no representations or warranties concerning the statistical or forward-looking information contained in this press release that is taken from or derived from third-party sources or industry publications. If applicable, these statistical data and forward-looking information are used in this press release exclusively for information.1 Thunderful Group AB capital is composed as of June 30th, 2025 of 74,532,894 ordinary shares and voting rightsAttachment
Atari - Agreement to invest in Thunderful Group
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