Atari announces investment in tinyBuild
PARIS, FRANCE (December 21, 2023 – 8.30 am CET) – Atari® — one of the world’s most iconic consumer brands and interactive entertainment producers — today announced it has entered into an agreement with tinyBuild, Inc (“tinyBuild”) to invest US$2 million as part of tinyBuild’s announced capital increase.
Wade Rosen, Chairman and CEO of Atari commented: “tinyBuild is an amazing company, with industry leading games and benefiting from an expansive fan base. Atari is excited to participate in the current capital transaction as tinyBuild’s approach to the indie games market is in line with Atari’s long-term approach.”
“We are pleased to welcome Atari as a strategic investor of tinyBuild. Atari is a timeless brand and its support validates the current strategic plan for tinyBuild,” said Alex Nichiporchik, CEO of tinyBuild.
tinyBuild announced on December 21, 2023 its intention to proceed with a US$14 million capital increase by means of the issue of new common shares. The announced capital increase by tinyBuild and Atari’s participation remain conditional on certain approvals of tinyBuild shareholders at a meeting which is intended to take place on January 18, 2024. Following the shareholders approval, and completion of the capital raise, Atari will hold approximately 7.5% of tinyBuild share capital1.
Founded in 2013, tinyBuild (AIM: TBLD) is a global video games publisher and developer, with a catalogue of more than 80 premium titles across different genres. tinyBuild’s strategy is to focus on its own intellectual property (IP) to build multi-game and multimedia franchises, in partnership with developers. tinyBuild is headquartered in the USA with operations stretching across the Americas and Europe. The Group’s broad geographical footprint enables the Company to source high-potential IP, access cost-effective development resources, and build a loyal customer base through its innovative grassroots marketing. tinyBuild was admitted to AIM, a market operated by the London Stock Exchange, in March 2021.
Atari is an interactive entertainment company and an iconic gaming industry brand that transcends generations and audiences. The company is globally recognized for its multi-platform, interactive entertainment and licensed products. Atari owns and/or manages a portfolio of more than 200 unique games and franchises, including world-renowned brands like Asteroids®, Centipede®, Missile Command®, Pong®, and RollerCoaster Tycoon®. Atari has offices in New York and Paris. Visit us online at www.Atari.com.
Atari shares are listed in France on Euronext Growth Paris (ISIN Code FR0010478248, Ticker ALATA) and OTC Pink Current (Ticker PONGF).
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1 Depending on the final results of the capital increase