17:00 18 March 2021
Polyslash obtains nearly PLN 1.6 mln from issue of shares
NewConnect-listed Kraków-based game producer, Polyslash, obtained PLN 1.587 million as part of the issue of series C shares in the form of a private subscription. The funds raised will be used to finance the production of Tribe games: Primitive Builder and Police Shootout, as well as marketing activities related to these titles. The capital will also finance work on another, yet unannounced, the original production of the company. The shares were acquired by 30 investors and the subscription reduction rate was 35 percent.
"The decision to issue series C shares was one of the most difficult business decisions. However, it allowed us to obtain the funds needed to finance our ambitious production and publishing plans, without making us dependent on the cash generated from the sale of Mech Mechanic Simulator. We assume that the game will be positive. accepted by the players, while obtaining real sales income is spread over time. considering that investors wanted to buy many more shares than we offered," Dawid Ciślak, President of the Management Board of Polyslash, commented.
(WBJ)
