tinyBuild Inc, developer of the popular survival horror game series Hello Neighbor, rallied 88% in opening trades this morning after announcing a US$14 million (£11 million) equity round.
The 5p-per-share offer represented a nearly 100% premium to Wednesday’s closing price.
tinyBuild said it entered a US$2 million private placing with classic gaming company Atari, while an open offer to existing shareholders intends to raise US$2.16 million.
Shares were changing hands at 4.7p with a market capitalisation of £9.5 million at the time of writing.