Gaming Realms raises €2.98 million

The online gaming company raises £2.5 million (€2.98 million) through admission of 12.5 million shares.

UK.- Online gaming company Gaming Realms raised £2.5 million (€2.98 million) through a subscription of 12.5 million new ordinary shares.

The subscription represented 4.65 percent of the oline company’s enlarged share capital. This proceeds will be used to pay part of the US$4 million (€3.56 million) owed to RealNetworks after Gaming Realms bought various assets from it in August 2015. The rest of the debt will be paid from the company’s existing cash.

According to Gaming Realms the application for admission of the subscription shares will be made to AIM.  Around 10.75 million subscription share will be effective around 4 August for first admission. Then, the remaining 1.75 million subscription shares will be made no later than 31 August.