GAN collects £450,000 through new share placing
GAN has raised £450,000 (€540,200/$601,400) via a non-pre-emptive placing of 1.5 million new ordinary shares.
Placed at an issue price of 30 pence each, shares were sold to David Capital Partners and certain of its associates, and will represent 2.2% of the enlarged issued share capital of GAN.
The company said that it intends to use the proceeds of the placing to continue the expansion of both real-money regulated gaming and Simulated Gaming in the US.
Dermot Smurfit, chief executive of GAN, said: “This placing brings GAN the support of Chicago-based David Capital Partners and actively raises awareness of GAN’s investment case among the US technology investment community whom we believe are natural investors for our business.
“We have a strong and unique product offering, a growing client base and sufficient capital for our current and expected business needs.
“The directors of GAN do not anticipate any further capital requirements at this time.”
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