Fladgate LLP has advised Gfinity plc (AIM: GFIN), a leading international esports solution provider, on its latest placing and subscription to raise £2.25 million.
The funds raised will support the company’s further growth as it sharpens its strategic focus on Motorsports, Own Community franchise and building community for others, the three core areas of its success and strength.
Commenting on the transaction, head of the corporate department David Robinson said, “Esports is an exciting and evolving growth industry. Having worked with Gfinity over the years, we are pleased to be supporting this industry leader once again in this transaction to fuel its growth.”
John Clarke, Chief Executive Officer of Gfinity, said: “This fundraising marks the final step of our strategic review process. The funds raised further strengthen our financial position following on from the previously announced sharpened strategic focus for the business and the significant reduction of our cost base. We now have a solid cash position to ensure that Gfinity can continue to capitalise on the exciting market opportunities we see ahead. I’m pleased that in this extremely challenging time our existing investors, as well as new investors, have shown their support for this fundraise, our strategy and our future.”
The Fladgate team was led by David Robinson, who was assisted by Senior Associate Orit Rioumine-Gold and Associate Mary Liu.
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