Gfinity PLC (AIM:GFIN) has conditionally raised £2.7mln through an issue of new shares at 1.25p each.
The funding comprises a firm placing and conditional placing with a subscription also split into firm and conditional elements, the eSports and events group said in a statement.
The gross proceeds of the firm placing and firm subscription will be approximately £1.31mln and the gross proceeds of the conditional placing and conditional subscription will be approximately £1.39mln, Gfinity added.
The new shares come with a warrant to subscribe for one share at the issue price.
Shareholder approval is needed for the conditional placing and subscription.
The money will be used for working capital, said the company.