Beckham-Backed Guild Esports Raises $25.71M Ahead of London Stock Exchange Debut
Guild Esports has raised £20M ($25.71M USD), according to a Reuters report. The esports organization said Tuesday that its oversubscribed offering of 250M shares was priced at 8 pence (.10) per ordinary share. The company plans an initial public offering (IPO) via the London Stock Exchange Friday.
With its IPO on the London Stock Exchange, the company is looking to raise £20M (roughly $26M USD) at a valuation of £50M ($65M) to finance its expansion plans, including recruiting more player talent. The company said in its original IPO announcement that roughly 40% of its shares will be available through the listing.
Much of the investment interest is likely associated with the minority investment of David Beckham, former soccer player and owner of the Major League Soccer (MLS) expansion team Inter Miami CF owner. In June, Beckham acquired “a significant minority stake” in the company through his investment vehicle, DB Ventures, as part of a £5M ($6.5M) private funding round.
Guild’s offerings beyond the Beckham name attachment includes a Rocket League squad and FIFA player Niklas “NRaseck” Raseck.
For a more detailed exploration of Guild Esports’ IPO plans, check out TEO writer Tobias Seck’s analysis of the company’s plans to go public.
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