Atari: Conversion of Loans into Shares and Capital Increase of €3.8 Million at €24 per Share
The Luxembourg-listed publisher on Euronext Growth Paris converted into shares several loans granted by IRATA LLC and private financial partners, while carrying out a capital increase in cash reserved for executives and investors. These transactions were approved by the board of directors meeting on August 16, 2026.
Five IRATA LLC Loans Converted into Shares
Atari converted into shares, through compensation, five loans previously granted by IRATA LLC, a holding company of Wade Rosen, chief executive officer of the group. These loans, dated August 28, 2025, January 31, 2026, March 9, 2026 and July 31, 2026 (two loans), represent a total amount of €10.3 million in principal and accrued interest, carrying an annual interest rate of 10% to 15%.
Their conversion resulted in the issuance of 428,649 new ordinary shares at a price of €24.00 per share, representing 11.5% of the capital after the increase. Furthermore, loans contracted with private financial partners, for a total of €5.6 million, were also converted into 235,088 ordinary shares at the same price.
Following these transactions, the amount of loans remaining due by Atari and its subsidiaries to IRATA LLC amounts to approximately €62.7 million in principal.
Capital Increase in Cash and Evolution of Shareholding
Atari furthermore carried out a share issuance in cash, within the framework of a capital increase reserved for members of the management team and private financial partners. This transaction involves 157,762 new ordinary shares at a price of €24.00 per share, representing 4.2% of the capital after the increase, corresponding to a total subscription amount in cash of €3.8 million, including premium.
In total, 821,499 new ordinary shares were issued at €24.00 per share, a price corresponding to an 11% premium compared to the share price on August 14, 2026 (€21.59). Atari's share capital is now set at €7,478,620, divided into 3,739,310 shares with a nominal value of €2.00 each.
Following the capital increase, IRATA LLC holds 42.6% of the capital and 42.8% of voting rights. Atari indicates it is in discussion with private financial partners regarding the refinancing of outstanding loans, which could lead to an extension of these receivables or compensation through the issuance of new shares, with no assurance that an agreement will be reached.
