ABGSC acted as Joint Bookrunner in connection with the NOK 1,683 million secondary sale of shares in Kahoot! by Northzone and Creandum

Northzone VII L.P. (“Northzone”) and Creandum Creandum III LP (“Creandum”) today announced the sale of 27,584,112 shares in Kahoot! (the “Company”) at a price of NOK 61 per share, yielding proceeds of approx. NOK 1.7bn. Following the transaction, Northzone and Creandum own 24,000,000 and 20,000,000 shares in the Company, representing 5.4% and 4.5% of the share capital in the Company, respectively.
The Placement, which took place through an accelerated bookbuilding process, attracted very strong interest from high quality institutional investors domestically and internationally, and was multiple times oversubscribed. On that basis, the transaction was upsized from approx. 20 million shares at launch to approx. 28 million shares. In addition to strong institutional demand from e.g. existing investor SoftBankCcc Group Corp. (“SoftBank”) that purchased 5,000,000 shares in the transaction, Eilert Hanoa, CEO of Kahoot!, purchased 2,500,000 shares in the placing through his wholly owned company Glitrafjord AS. Following the transaction, Softbank and Eilert Hanoa own 48,000,000 and 39,208,910 shares in the Company, representing 10.8% and 8.8% of the share capital in the Company, respectively.
This is the 6 consecutive Kahoot-related transaction whereby ABGSC is acting as Joint Bookrunner.