Brief: Tinybuild Says Co Is Exploring Near-Term Options To Strengthen Balance Sheet

tinyBuild

05/12/2023 07:53

Dec 5 (Reuters) - Tinybuild Inc  TBLD.L :
    * TRADING UPDATE AND LITIGATION SETTLEMENT
    * CURRENT TRADING BELOW EXPECTATIONS IN Q4, AFTER UNUSUALLY
WEAK
TRADING IN OCT & FY23 REVENUES NOW LIKELY TO BE BETWEEN $40-50
MILLION
    * COMPANY IS EXPLORING NEAR-TERM OPTIONS TO STRENGTHEN
BALANCE
SHEET
    * ALEX NICHIPORCHIK CONFIRMING SUPPORT FOR COMPANY AND
WILLINGNESS
TO UNDERWRITE, A FUTURE EQUITY FUNDRAISE OF UP TO $10 MILLION
    * TO MITIGATE IMPACT OF LOWER EXPECTED CASH INFLOWS JUST
BEFORE
END OF YEAR, CO HAS PROMPTLY ACCELERATED ITS COST REDUCTION PLAN
    * ONE-OFF SEVERANCE CHARGES AND FURTHER IMPAIRMENTS MAY BE
BOOKED
IN FY 2023 AS A RESULT OF FURTHER COST ACTION

Source text for Eikon:  ID:nRSE6430Va 
Further company coverage:  TBLD.L 

 ((Reuters.Briefs@thomsonreuters.com;))