Elite: Dangerous studio Frontier Developments set to go public
Frontier Developments, known around these parts as the studio behind crowdfunding success story Elite: Dangerous, is about to enter a different brave new world: that of the London Stock Exchange. The company is set to launch its IPO on July 15th with around £4 million ($5.9 million) in shares.
Elite: Dangerous's Kickstarter campaign raised £1.6 million and Frontier snagged an additional £2.8 in provate funding. The studio has about £7.2 million in the bank.
A statement from founder and studio head David Braben accompanied the announcement, outlining his excitement to list Frontier at "a time of such strong momentum in the business and the sector." He also noted that the IPO "gives us the necessary financial impetus to continue operating at the forefront of the continually evolving and expanding global games market."
