Gaming Realms raise funds through share subscription

London-headquartered mobile gaming provider Gaming Realms PLC has raised GBP 2.5 million through a subscription of 12.5 million shares at 20.00 pence per share.

The proceeds will be used to partly fund the first tranche, amounting to US$ 4 million of the deferred consideration, following the acquisition of and now due to RealNetworks Inc.

Our readers will recall Gaming Realms acquired RealNetworks assets in July 2015 for a total consideration of US$ 18 million. US$ 10 million was paid on completion of the deal followed by two deferred tranches of US$ 4 million each due 12 and 24 months later.

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