Fragbite Group AB ("Fragbite Group" or "the Company") has concluded the negotiations concerning acquisition of a substantial share of a profitable growth company in the iGaming sector (the "Target Company") which was initiated upon the signing of a Letter of Intent on 23 October. It is the Board of Director's assessment that the best form of continued collaboration does not at present involve Fragbite Group making further investments in the Target Company. Both parties are open to resuming the dialogue regarding a possible increase in Fragbite Group's ownership stake at a later time.
On 23 October 2025 Fragbite Group signed a Letter of Intent ("LOI") for the acquisition of a significant share in a profitable growth company in the iGaming sector ("the Target Company"). With the LOI, the parties expressed their intention to negotiate a transaction that would result in Fragbite Group acquiring a significant share in the Target Company with the option of majority ownership. Subsequently, a due diligence process and negotiations have been carried out. The Board of Directors has today decided to postpone further investment in the Target Company, based on the assessment that it is not at present the best option for expanding the partnership. Both parties are open to resuming the dialogue regarding a possible increase in Fragbite Group's ownership stake at a later time.
For questions, please contact:
Erika Mattsson, Chief Communications Officer
ir@fragbitegroup.com
Phone: +46 8 520 277 82
Redeye AB is the Company's Certified Adviser.
About us
Fragbite Group (publ) is a Swedish corporate group with a portfolio of established subsidiaries that develop, adapt and publish games and esports content within GAMING, ESPORTS and WEB3. Our products are developed for both traditional platforms - PC, mobile and console - and modern platforms built on blockchain technology. The Group is headquartered in Stockholm and listed on Nasdaq First North Growth Market.
This information is information that Fragbite Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-27 19:49 CET.