GAN Plc raises £450,000 through David Capital Partners Chicago

London AIM-listed GAN Plc (formerly GameAccount Network) has welcomed Chicago financial advisory David Capital Partners as new investors raising £450,000 for its business.

GAN governance declared that the firm had conducted a new share placement of 1.5 million ‘ordinary shares’ issued at a price of 30p. The completed purchase will see David Capital hold 2.2% of total share capital of the enlarged GAN Plc

The Company stated that the investment was needed in order to continue to fund its US expansion projects for ‘real-money’ and ‘simulated’ games, particularly in light of recent regulatory developments in Pennsylvania

Dermot Smurfit, CEO of GAN commented on the development:

“This placing brings GAN the support of Chicago-based David Capital Partners and actively raises awareness of GAN’s investment case among the US technology investment community whom we believe are natural investors for our business.”

“We have a strong and unique product offering, a growing client base and sufficient capital for our current and expected business needs. The directors of GAN do not anticipate any further capital requirements at this time.”