IGaming B2B supplier GAN has proposed an equity subscription of GBP 7.5 million to U.S. investors that it will use to encourage U.S. growth following the latest legislatory developments (see previous reports).
GAN plans using the net proceeds to increase software engineering tools that encourage existing US clients and the upcoming launch of new US clients and services on the market.
Additionally, the company will strengthen its balance sheet by settling complete the GBP 2,001,483 — 9 percent Convertible Unsecured Loan Notes 2022 issued by GAN at April 2017.
The proposed Subscription is subject to shareholder approval at GAN’s upcoming General Meeting and the entrance of the Subscription Shares to trading on AIM and the ESM.
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