Fragbite CEO Resigns Following Fall Damage Bankruptcy

Stefan Tengvall steps in as interim CEO, initiating cost reduction and restructuring plans

Marcus Teilman resigns as Fragbite CEO to pursue new challenges, with Stefan Tengvall named interim CEO.
Sten Wranne takes over Tengvall's role as Chairman of the Board.
Fall Damage, acquired by Fragbite in 2023, declared bankrupt after struggles with its game Alara Prime.
Fragbite announces a SEK 72.1 million rights issue and SEK 20 million bridge financing to address liquidity needs.
Company emphasizes focus on profitable core business and future game releases for 2024 and 2025.