Starbreeze raises $5m in share sale to help fund Payday 3

Starbreeze raises $5m in share sale to help fund Payday 3

Swedish games firm Starbreeze has raised kr51.3m ($5m) in a new share sale.

As announced on the company's investor relations portal, the company sold 32,936,784 shares at kr1.557 ($0.15) each. The aim of this was to raise money for new games, with Payday 3 apparently being a focus.

“This share issue is an important part of the company’s execution of the Reorganisation Plan and a part of the financing of the operations," chair Torgny Hellström said. "We see it as a positive confirmation of our actions."

Starbreeze only recently reconstructed itself, having gone into administration in December 2018. The firm applied for three extension periods and eventually emerged from reconstruction in December 2019.

During this time, the company sold off many of the publishing rights it had snapped up over the years in order to help bring it back into the black. These included System Shock 3, Psychonauts 2 and Dead by Daylight.

In a report last year, Starbreeze valued the Payday IP at $162.3m and is currently looking for a publishing partner for Payday 3. Given that Italian firm Digital Bros is seemingly moving to take over Starbreeze, it's possible that its 505 Games publishing arm might pick up this duty.

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Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.