UK-based esports organisation Guild Esports has completed a follow-on fundraising round of £130,000.
The fundraising was made through a share placing and subscription of up to 26,000,000 new ordinary shares at a price of £0.005 per share. This is the same price the organisation had in its latest £1m subscription by an unnamed esports brand.
The company’s executive management, which includes CEO Jasmine Skee, SVP of Creative and Strategy Nick Westwood, VP of Commercial, Esports and Gaming Luke Jones, Director of Operations Matthew Charles, and Director of Client Services Kristina Frost, has subscribed for an aggregate total of 6,000,000 new ordinary shares at a price of £0.005 per share, with a total contribution of £30,000.
John Lanyon, CEO of financial institution Arkios, has subscribed for up to 20,000,000 new ordinary shares, with a total contribution of £100,000. According to a release, Arkios Limited also acted as bookrunner to the placement.
Lanyon’s subscription specifically will be divided into two segments. The first one will be for 10,000,000 new ordinary shares and a total contribution of £50,000. The second segment, which also totals £50,000, is subject to mutual agreement between Guild Esports and John Lanyon. Guild Esports has claimed that this is expected to be completed by December 31st 2023.
Additionally, the ordinary shares held by John Lanyon will be subject to a six-month lock-in period from the date of issuance of the Tranche Two Subscription Shares.
Jasmine Skee, CEO of Guild Esports, commented: “We are pleased that management and advisors have supported the Company, which stands as a vote of confidence in Guild’s strategy and solidifies the commitment of our leadership team and advisors.
“This additional funding will be used together with the injection of capital announced last month opens exciting avenues for Guild and provides us with the means to accelerate our strategic initiatives as we look to build the world’s leading gaming-focused media brand.”
It is worth noting that Guild has also awarded Special Advisor Stephen Duval and John Lanyon warrants to subscribe for 15,000,000 and 5,000,000 ordinary shares, respectively, at a price of £0.005 per share. These warrants will be valid for three years starting the date of their issuance.