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Lotto24 AG Completes Rights Offering

Thursday, 26 Sep 2013 07:38am EDT 

Lotto24 AG announced that it has completed its rights offering and has achieved its targeted net issue proceeds of around EUR 17 million by issuing all 5,988,816 offered new shares from Authorised Capital. Subscription rights for 99.9 % of the offered new shares were exercised in the course of the rights offering from September 12 to 25, 2013. Lotto24 AG intends to use the net proceeds from the capital increase to conduct marketing activities aimed at accelerating the acquisition of new customers. Proceeds are also to be used for the further development of the brokerage platform, including an expansion of the product portfolio to include further lotteries and the expansion of services for state-licensed lotteries. As a result of the capital increase, the total number of shares issued by Lotto24 AG will increase from 13,973,904 to 19,962,720. The new shares are expected to be included in the existing listing on the Frankfurt Stock Exchange on September 30, 2013. The transaction was accompanied by M.M. Warburg & CO KGaA as Sole Lead Manager. 

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