Heroic To Get New Owners

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Heroic To Get New Owners

The Norwegian organization is set to seek financial solvency under new ownership 


According to an announcement made on Monday by the Norwegian stock market, the Heroic Group has recently entered into a contractual arrangement with Krow Bidco AS. As per the agreement, Krow Bidco AS is set to launch an offer aimed at acquiring all outstanding shares of the company. The Heroic Group has strongly advised its shareholders to accept the offer.

Reports indicate that the offer is anticipated to be finalized by June. Valued at 2 NOK per share, which equates to approximately $0.19, the total worth of all shares is estimated to be nearly 56 million NOK or $5.2 million. Notably, shareholders with a collective ownership of around 42%, including the company's current board and management, have already signed conditional purchase agreements. These agreements will become effective if the prospective buyer enters into similar agreements to acquire 75% of all outstanding shares.

Heroic To Get New Owners

Credit: dust2.us

According to HLTV.org, ULTI Agency played a key role in finalizing the arrangement. The agency has an impressive portfolio of clients, including acclaimed talents such as Jonatan “⁠Devilwalk⁠” Lundberg, Håkon “⁠hallzerk⁠” Fjærli, and Fredrik “⁠roeJ⁠” Jørgensen. They had previously brokered the deal that saw Cloud9 acquiring Gambit’s roster. 

The buyer, Krow Bidco AS, remains shrouded in secrecy, with scant details available. It is known solely as a “Norwegian private limited liability company owned by a regulated EU investment fund.” However, the lack of further information about its structure, ownership, and investment activities makes it difficult to ascertain the full extent of Krow Bidco AS's operations.

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