NYX Gaming confirms $10.5m private placement

NYX Gaming Group has entered into a private placement offering of $10.5 million (€9.3 million) unsecured convertible debenture and 2,863,636 ordinary share purchase warrants with a private investor.

Under the agreement, the warrants will have a three-year term and a strike price of $3.50.

The convertible debenture will have an annual interest at a rate of 10%, which will become mature in January 2020, and can be converted into ordinary shares at a rate of $2.75 per share, with a maximum dilution of 4,200,000 shares.

NYX added that the proceeds of the placement have been used to settle, in part, amounts owing by a subsidiary to another private investor, relating to a prior investment in December 2015.

The latest placement is due to close on June 30.

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