High Roller Technologies Announces Closing of its Initial Public Offering

Rhea-AI Summary

High Roller Technologies (NYSE American: ROLR) has completed its initial public offering, selling 1,250,000 shares of common stock at $8.00 per share, raising $10 million in gross proceeds. The company granted underwriters a 45-day option to purchase up to 187,500 additional shares for over-allotments. Net proceeds will fund new user acquisition, expansion into North American and regulated markets, launch of new brands, and working capital. ThinkEquity served as the sole book-running manager for the IPO.

Positive

• Successfully raised $10 million in gross proceeds through IPO
• Strategic expansion plans into North American markets
• Listing on NYSE American exchange provides increased visibility and access to capital
• Potential for additional capital through 187,500 share over-allotment option

Negative

• Potential shareholder dilution from initial 1.25 million shares offering
• Additional dilution possible if over-allotment option is exercised
• Offering expenses and underwriting discounts will reduce net proceeds

Insights

Financial Analyst

The successful completion of High Roller Technologies' IPO marks a significant milestone, raising $10 million through the offering of 1.25 million shares at $8.00 per share. The potential over-allotment option could add another $1.5 million if fully exercised. The capital raise positions the company strategically in the competitive online gaming sector, with clear allocation plans focused on growth initiatives.

The funds' deployment strategy is well-defined, prioritizing user acquisition and market expansion into regulated North American markets. This approach could accelerate growth but faces challenges in a heavily regulated industry with high customer acquisition costs. The relatively modest IPO size suggests a measured approach to market entry, though the company may need additional funding rounds for substantial market penetration.

Market Research Analyst

The timing of High Roller's market entry through this IPO aligns with the expanding online gaming market, particularly as more North American jurisdictions regulate digital gambling. Operating premium brands targeting high-value players (HighRoller.com and Fruta.com) indicates a focus on the lucrative high-roller segment, which typically yields higher profit margins than mass-market offerings.

The company's strategy to potentially launch new brands or verticals suggests a multi-brand portfolio approach, which could help capture different market segments and reduce dependency on individual brands. However, the competitive landscape is intense, with established operators holding significant market share and substantial marketing budgets.

Las Vegas, Nevada, Oct. 24, 2024 (GLOBE NEWSWIRE) -- High Roller Technologies, Inc. (“High Roller” and the “Company”) (NYSE American: ROLR), operator of www.HighRoller.com and www.Fruta.com, each a premium brand in online gaming and a destination for high rollers, today announced the closing of its initial public offering of 1,250,000 shares of its common stock at a public offering price of $8.00 per share, for gross proceeds of $10 million, before deducting underwriting discounts and offering expenses. In addition, High Roller has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount.

High Roller intends to use the net proceeds from the offering for new user acquisition, the expansion to North American and/or other regulated markets, the launch of one or more new brands or verticals, and the balance of proceeds for general working capital.

ThinkEquity acted as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-276176) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on October 22, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About High Roller Technologies, Inc.

High Roller Technologies, Inc. operates as a global online gaming operator. The Company offers a compelling real money online casino platform with enhanced search engine optimization, direct API integrations, faster load times, and better scalability. High Roller Technologies serves customers worldwide.

Forward Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

ir@highroller.com
800-460-1039

FAQ

How much did High Roller Technologies (ROLR) raise in its IPO?

High Roller Technologies raised $10 million in gross proceeds by selling 1,250,000 shares at $8.00 per share in its IPO.

What is the over-allotment option for High Roller Technologies' IPO?

The underwriters have a 45-day option to purchase up to 187,500 additional shares at the IPO price to cover over-allotments.

How will High Roller Technologies (ROLR) use its IPO proceeds?

The company will use the proceeds for new user acquisition, expansion into North American markets, launching new brands or verticals, and general working capital.

What was the IPO price for High Roller Technologies (ROLR) shares?

The IPO price was set at $8.00 per share.