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New listing of LICHTHUND S.A. on NewConnect
The company LICHTHUND S.A. was newly listed on NewConnect on 18 July 2024.
LICHTHUND S.A. is the 358th company listed on NewConnect and the sixth new listing on NewConnect in 2024.
Key information
|
company name |
LICHTHUND S.A. |
|
ticker/short name |
LICHTHUND/LHD |
|
website |
https://lichthund.com/ |
|
seat |
Warsaw |
|
core business |
Lichthund S.A. is an independent developer of video games, specialising in the premium indie game segment |
|
new listings on NC in 2024 |
6 |
|
companies listed on NC |
358 |
|
business sector |
Gaming |
|
companies in the sector |
73 |
|
offering/sale * |
Public offering of shares: 27,000 series C shares and 70,000 series D shares |
|
offering/sale value* |
Offering of series C shares: PLN 1,971,000 Offering of series D shares PLN 4,830,000 |
|
issue/selling price* |
Issue price of series C shares: PLN 73.00 Issue price of series D shares: PLN 69.00 |
|
company valuation** |
PLN 40,227,000 |
|
value of introduced instruments** |
PLN 40,227,000 |
|
% free float (below 5% in shares subject to the application) |
24.49% |
|
free float value** |
PLN 9,850,302 |
|
% free float (below 5% in all shares) |
24.49% |
|
free float value** |
PLN 9,850,302 |
|
number of shareholders (shares subject to the application) |
86 (79 unrelated to the Issuer) |
|
Authorised Advisor |
Dom Maklerski Banku Ochrony Środowiska S.A. |
|
Related to other companies listed on NC/MM |
NONE |
* based on the reference price of series A, B, C, and D shares proposed by the Authorised Advisor and the Market Maker, equal to PLN 69.00
Issuer’s history and business
The company was formed as a result of the transformation of a limited partnership under the name Lichthund spółka z ograniczoną odpowiedzialnością spółka komandytowa into a joint-stock company. The issuer was entered in the register of entrepreneurs of the National Court Register on 1 February 2021.
The history of Lichthund S.A. can be divided into two key stages. The first stage, from the founding of the studio in 2014 until 2021, was characterised by an organic growth strategy. During this period, the founders financed the development of the studio based on funds from the release of the game “Lichtspeer”. The second stage began in 2021 and involved the decision to raise external capital and strategically expand the team. With these measures, Lichthund gained the ability to implement two projects simultaneously, which brought a significant acceleration of the studio’s growth.
Lichthund S.A. is a developer of video games, specialising in the premium indie game segment, combining a passion for creating innovative mechanics and gameplay with advanced technology and artistic expression.
Lichthund has five projects in its portfolio:
a) “Lichtspeer” - the studio’s debut game, which premiered in 2016 on PC and PS4, with console adaptations and a mobile version in the following years. “Lichtspeer” generated a total net sales revenue of approximately PLN 1 million over its life cycle, starting from its release in 2016 until the end of 2023. The Issuer estimates the total number of downloads of the game at around 140,000. With a multi-platform release, the game has been distributed in more than 90 countries worldwide.
b) “Food Truck Empire” - planned release of the game: H2 2024,
c) Project codenamed Bulldog - planned release of the game: H1 2025,
d) Projects codenamed Husky and Labrador - planned release of the games: 2026+.
The “Food Truck Empire” game and the Bulldog project have secured financing (one from own funds and the other through a partnership with the publisher, Team17) and the planned launches of these two projects are not at risk. Furthermore, in the case of “Food Truck Empire”, the project is at an advanced stage of development. From the beginning, the Issuer has followed a strategy of producing games of very high quality, and therefore, according to the Management Board of the Issuer, there is a good chance for both projects to achieve global success.
Selected financials of the Issuer (PLN’000):
|
|
Q1 2024 |
2023 |
2022 |
|
equity |
3 001 839.21 |
3 131 966.60 |
1 727 198.27 |
|
liabilities and provisions |
292 527.20 |
332 688.33 |
168 708.84 |
|
total assets |
3 294 760.86 |
3 464 654.93 |
1 895 907.11 |
|
net revenue - including change of inventory |
450 932.51 -30 902.21 |
2 886 972.10 156 605.31 |
743 509.80 582 599.61 |
|
net profit |
-130 127.39 |
- 566 231.67 |
- 592 785.17 |
|
total net cash flows |
42 176.90 |
940 156.67 |
-1 258 984.27 |
|
cash flows – closing balance |
1 280 347.89 |
1 238 170.99 |
298 014.32 |
27,000 series C shares – public offering
The public offering of series C shares opened on 30 June 2023 and closed on 10 July 2023.
Series C shares were taken up by 27 entities.
The issue price of the shares was PLN 73.00.
The offering value was PLN 1,971,000.
70,000 series D shares – public offering
The public offering of series D shares opened on 26 April 2024 and closed on 9 May 2024.
Series D shares were taken up by 49 entities.
The issue price of the shares was PLN 69.00.
The offering value was PLN 4,830,000.
Financial instruments newly listed on NewConnect: 538,000 ordinary bearer shares of series A, B, C and D with a nominal value of PLN 1.00 each.
