Sections

Starbreeze seeks $26m to fund ongoing development of Payday 3

COVID-19 lockdown interrupted publisher negotiations for the next Payday game

Starbreeze will raise more than $26 million in a new share issue, due to the negative impact of the COVID-19 pandemic on finding a publisher for Payday 3.

The issue of SEK 250 million ($26.8 million) in class A and B shares has been approved by the Swedish firm's four biggest stakeholders: Swedbank Robur, Första AP-fonden, Digital Brothers and Fjärde AP-fonden, which hold around 40% of share capital and 57% of voting rights.

Starbreeze said that 70% of the money raised will be used for development, and specifically Payday 3. The remaining 30% will be used to pay debts associated with the reconstruction period that followed its near collapse in late 2018.

The plan laid out during reconstruction involved finding a publisher for Payday 3 in the first half of 2020. However, Starbreeze explained that the COVID-19 lockdown had interrupted talks with "several leading publishing partners" about a deal.

The share issue is subject to approval in a meeting of the company's shareholders, which is scheduled for August 13, 2020. However, it should be noted that the majority of votes have already approved the strategy.

Payday 2 has been downloaded more than 28 million times since it launched in 2013, though that number was boosted by a period in which the game was given away for free. Even now, the base game is sold at steep discounts on Steam -- at the time of writing it was reduced by 90% to around $1 -- with its various DLC packs sold at higher prices.

Starbreeze restarted content production for the game in October 2019, almost a year after halting to focus on new projects. Payday 3 is currently scheduled to launch in 2022 or 2023.

More stories

Starbreeze cuts losses to $9.9m

Payday 3 publishing plans hindered by travel restrictions

By James Batchelor

Starbreeze appoints Mats Juhl as new CFO

Claes Wenthzel departs after guidning the Swedish company through its reconstruction period

By Matthew Handrahan

Latest comments

There are no comments on this article yet. Why not be the first to post one?

Sign in to contribute

Need an account? Register now.