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Gfinity confirms plan to raise £6.7mln through share placing

The company said "there can be no certainty that such fundraising will be concluded" and will make another announcement in due course

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Gfinity is buying RealSport e-sports hub for £2.4mln

Gfinity PLC (LON:GFIN) has confirmed it is working on a £6.7mln fundraising through the placing of new shares.

The e-sports entertainment group said in a statement on Tuesday that it notes recent press speculation regarding a proposed placing of new shares.

“The company is currently working on completing a placing of new shares at 12p per share to raise approximately £6.7mln,” it said.

“There can be no certainty that such fundraising will be concluded nor as to the timing or terms of such, but a further announcement will be made as required as soon as possible.”

Earlier this month, the company announced that it would buy RealSM, the business behind the fan-orientated sports media platform, RealSport.

READ: Gfinity buys RealSport e-sports hub for £2.4mln

Gfinity is paying around £2.4mln for the firm, with the consideration to be settled through the issue to the vendors of 12.3mln Gfinity shares at an assumed issue price of 19.317p each.

Quick facts: Gfinity PLC

Price: 1.6 GBX

AIM:GFIN
Market: AIM
Market Cap: £11.51 m
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