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GAMING REALMS RAISE FUNDS THROUGH SHARE SUBSCRIPTION
02nd August, 2016 at 20:57:31
To part-pay first tranche of deferred payment connected with RealNetworks acquisition.
London-headquartered mobile gaming provider Gaming Realms PLC has raised £ 2.5 million through a subscription of 12.5 million shares at 20.00 pence per share.
The proceeds will be used to partly fund the first tranche, amounting to US$ 4 million of the deferred consideration, following the acquisition of and now due to RealNetworks Inc.
readers will recall Gaming Realms acquired RealNetworks assets in July 2015 for a total consideration of US$ 18 million. US$ 10 million was paid on completion of the deal followed by two deferred tranches of US$ 4 million each due 12 and 24 months later.
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