Bragg Plans Announcement
Bragg Gaming Group has announced plans to raise up to approximately US$1.3m through a non-brokered private placement, with proceeds set to support general corporate and working capital purposes.
The Toronto and Las Vegas-listed iGaming supplier said it expects to issue up to 751,445 subscription receipts at US$1.73 each. The company said the issue price was based on Bragg’s Nasdaq closing share price on 29 May 2026. The planned offering was announced on 1 June 2026.
Bragg trades on both Nasdaq and the Toronto Stock Exchange under the ticker BRAG. The company supplies casino content, aggregation, player account management and engagement technology to online casino, sports betting and lottery operators.
Placement Linked To Drayton Transaction
The private placement is connected to Bragg’s previously announced plan to acquire Drayton International, a diversified gaming technology and content platform. Bragg said the subscription receipts and gross proceeds will be subject to escrow release conditions, including completion or satisfaction of material conditions tied to the Drayton transaction.
If those conditions are met, each subscription receipt will be exchanged for one Bragg common share and one non-transferable common share purchase warrant. Each warrant will be exercisable into one common share for 36 months from the closing of the Drayton transaction, at an exercise price of US$2.16 per warrant share.
Bragg said closing of the offering is expected on or around 19 June 2026, subject to conditions including regulatory and stock exchange approvals from the TSX and Nasdaq. The company also said subscribers will be required to enter into lock-up arrangements covering their shares and warrants for up to four months after the Drayton transaction closes.
Insiders And Matt Davey Expected To Participate
Bragg said several insiders intend to take part in the offering. Chief Financial Officer Robbie Bressler intends to subscribe for up to 86,705 subscription receipts, Chief Operating Officer Morten Tonnesen for up to 57,803, and director Thomas Winter for up to 57,803.
Matt Davey, founder and chairman of gaming investment fund Tekkorp Capital, also intends to subscribe for up to 115,607 subscription receipts. Bragg has previously said it intends to appoint Davey as non-executive chairman after completion of the Drayton deal. Following completion of both the transaction and the offering, Davey is expected to hold around 10% of Bragg’s issued and outstanding shares on a non-diluted basis.
Bragg announced the Drayton acquisition plan on 14 May 2026, saying it had entered into a binding term sheet to acquire the business. In the same update, Bragg described the acquisition as part of a wider “games-first” strategy and said Davey was expected to join the board as non-executive chairman once the transaction closes.
Recent Results Provide Wider Context
The funding plan follows Bragg’s first-quarter 2026 results, also announced on 14 May 2026. The company reported quarterly revenue of €25.7m, or US$29.7m, representing year-on-year growth of 0.6%. Bragg also reported a quarterly net loss of €1.2m, improved from €2.6m in the same period of 2025.
Bragg’s Q1 update also referenced its earlier restructuring programme, under which the company anticipated annualised cash savings of approximately €4.5m. The latest private placement therefore comes during a period of board change, acquisition planning and cost-control work at the supplier.
The company cautioned that both the offering and the Drayton transaction remain subject to conditions and approvals. It also said the securities have not been registered under US securities laws and may not be offered or sold in the United States without registration or an applicable exemption.
