Vivid Games has gained a strategic investor. Lithuanian fund Gemini Grupė UAB will take over 40% of the Company's shares.
20.09.2024
Vivid Games has gained a strategic investor.
Lithuanian fund Gemini Grupė UAB will take over 40% of the Company's shares.
The Company has announced the completion of its review of strategic options and the Board's decision to conclude an agreement with the investor, as a result of which the new shareholder will acquire more than 40% of the Company's shares. The Company will use the funds raised, in the amount of PLN 5.23 million, for the development of Real Boxing 3 and new projects.
“We decided on the Lithuanian fund's offer because it is able to quickly provide us with the funds necessary for the further development of Real Boxing 3, provide us with financial security in the future, and support us in building the global Real Boxing brand. The fund, through its portfolio companies, has experience in bringing products to store shelves in Europe. We would like to take advantage of this and build the Real Boxing brand as present both in the digital world and in offline product and service offerings. Once all the formalities are complete, we will focus on updating the roadmap and a quick soft-launch of Real Boxing 3. We will keep you posted on the details” - Piotr Gamracy, CEO of Vivid Games, emphas.
“Conducting a public issue under current market conditions and with the current shareholder structure was not possible. The issue price takes into account these specifics. I am convinced that attracting a solid investor is a chance for the company to focus on achieving ambitious goals that will translate into an increase in its value in the future” - Gamracy adds.