Brief: Tinybuild Announces Intention To Raise $14 Mln

tinyBuild

21/12/2023 07:35

Dec 21 (Reuters) - Tinybuild Inc  TBLD.L :
    * TINYBUILD, INC.  - PLACING, PRIVATE
PLACEMENT,SUBSCRIPTION,OPEN
OFFER
    * TINYBUILD INC: TO RAISE GROSS PROCEEDS OF UP TO C.US$14
MILLION
    * TINYBUILD INC: ISSUE OF NEW COMMON SHARES AT A PRICE OF 5
PENCE
PER SHARE
    * TINYBUILD INC: FY23 REVENUES ARE NOW LIKELY TO BE BETWEEN
$40-50
MILLION
    * TINYBUILD INC: ACCELERATED ITS COST REDUCTION PLAN
    * TINYBUILD INC SEES CASH OUTFLOW REDUCTION BY $5-10 MILLION
PER
ANNUM, STARTING FROM FY24
    * TINYBUILD INC SEES WILL REQUIRE NEW FUNDING BY END OF
JANUARY
2024
    * TINYBUILD INC SEES EVALUATING NEAR-TERM OPTIONS TO
STRENGTHEN
ITS BALANCE SHEET
    * TINYBUILD INC: CEO ALEX NICHIPORCHIK TO UNDERWRITE EQUITY
FUNDRAISE OF NEW SHARES TO RAISE UP TO $10 MILLION

Source text for Eikon:  ID:nRSU5943Xa 
Further company coverage:  TBLD.L 

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