Atari issues 821,499 shares at €24.00 to convert loans and raise cash

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Atari said on Aug 17 that it issued 821,499 new ordinary shares at €24.00 each, in loan conversions and a cash subscription. The company said that price was a premium of 11% to its share price of €21.59 on Aug 14, 2026. Atari's board approved the transactions on Aug 16, 2026, with the resolutions adopted unanimously by the directors entitled to vote.1^,2^,3

Atari converted five loans from IRATA LLC, the holding company of Wade Rosen, its chairman and chief executive, into shares by way of set-off; the filing's title speaks of the repayment in shares of loans from IRATA LLC. The loans, dated from Aug 28, 2025 to Jul 31, 2026, totaled €10.3 million in principal and accrued interest and bore annual interest of 10% to 15%. They became 428,649 new shares, which the release put at 11.5% of the share capital after the increase and 14.7% of the share capital before it. The release's table showed IRATA LLC with 1,165,489 shares before the increase, 39.96% of the share capital and 40.2% of the voting rights; following the increase, Atari said, IRATA held 42.6% of the share capital and 42.8% of the voting rights. After the conversion, IRATA's remaining loans to Atari and its subsidiaries stood at approximately €62.7 million in principal, and a footnote said such loans could also be redeemed by way of new share issuance.4^,5^,6^,7^,8^,9^,10^,11

Certain loans from private financial partners, €5.6 million in principal and accrued interest, were converted into 235,088 shares at €24.00 each, which the release put at 6.3% of the share capital after the increase and 8.1% before it. The cash part was 157,762 new shares, 4.2% of the share capital after the increase, in a reserved capital increase for members of Atari's executive leadership team and private financial partners, at a total cash subscription amount of €3.8 million including premium.12^,13^,14

In the release, Atari said the capital increase would be recorded before a Luxembourg notary, and the new shares admitted to trading on Euronext Growth Paris, in the days after it. It was also in discussion with private financial partners about refinancing outstanding loans, which could mean extending the notes, setting them off against new shares, or both, and it said there was no assurance that an agreement would be reached.15^,16^,17

Atari, a publisher whose shares were listed on Euronext Growth Paris, described itself as owning or managing a portfolio of more than 400 unique games and franchises, and its family of brands included the developers Digital Eclipse, Nightdive Studios, Thunderful and Hipster Whale.18^,19^,20^,21

The AMF filed this record as inside information, the label for statements a listed company has to publish promptly. Our records hold the release's text as filed, in English, and not the earlier press releases it refers to for how IRATA's loans can be redeemed in shares, so that history is not covered here.22^,23