Funcom secures $1.6 million in additional equity
Funcom's website has published news of a move that gives the firm $1.6 million of additional equity as it prepares to launch LEGO Minifigures Online.
In May of 2012, Funcom reached an agreement with US fund manager Yorkville Advisors and is now partially exercising the resulting option. "We are very pleased to have increased the company's financial flexibility with funds that will be used in preparing for the launch of LEGO Minifigures Online," explained CEO Ole Schreiner explained in a prepared statement. "We have several times expressed a need for additional equity and have considered different alternatives to secure this. This facility has been available to us since 2012, but the timing has not been right before."
