Gaming Innovation Group – Loan conversion
Gaming Innovation Group Inc. (GiG) has today agreed to convert the EUR 8.5 million convertible loan entered into in December 2020. The conversion will lower the overall leverage ratio and strengthen the balance through increased equity. GiG will issue 6.6 million new shares to the lenders that covers the outstanding loan, accrued interest and a termination fee for early termination. The new shares are expected to be issued on or before 31 May 2021 and are subject to portioned lock-up. The Company’s share capital will increase from USD 90,075,626 to USD 96,675,626 and the number of