Progressive Gaming announced us$ 31 million strategic financing
The investment is in the form of a private placement of approximately 6.9 million shares of common stock for total proceeds of approximately us$ 31 million. The private placement is subject to closing conditions and is expected to close next August 17. The investment was led by a large prominent mutual fund. No warrants will be issued in connection with the financing.
The company expects to use proceeds from this financing, as well proceeds from the anticipated sale of its Table Games Division, to repay debt and for working capital purposes.
The shares of common stock to be sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from the registration requirements.
The shares were offered and will be sold only to a limited number of accredited investors. The company has agreed to file a registration statement with the SEC covering the resale of the common stock issued in the private placement.
FanDuel Casino unveils new ‘Calling All Thrillionaires’ brand campaign
Aristocrat to showcase four world premieres at OIGA 2025
US iCasino revenue hits $898M in May and tax intake reaches $175M
Stretch Network unveils €1.3 million Summer Poker League
3 Oaks Gaming expands Hold & Win slot collection with 777 Fruity Coins launch
Win Systems debuts Gold Club Colors electronic roulette at Peru Gaming Show 2025
1xBet highlights LatAm expansion strategy at Peru Gaming Show 2025
Gaming in Germany Conference set for November 11 edition in Berlin
SiGMA to hold La Dolce Vita Night event in Rome ahead of Central Europe Summit
SBC Summit adds Global and Emerging Markets stages to meet expanding international interest
