Progressive Gaming completes us$ 31 million strategic financing
The investment was led by a large prominent mutual fund. No warrants were 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 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 or an applicable exemption from the registration requirements.
The shares were offered and sold only to a limited number of accredited investors. The firm has agreed to file a registration statement with the SEC covering the resale of the common stock issued in the private placement.
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