Playlogic Raises $7 Million
Game publisher Playlogic confirmed that it has raised an additional $7 million of funding.
$3 million was raised through the sale of three million shares in a private placement, bringing the total number of outstanding Playlogic shares to 41.5 million. The other $4 million was borrowed as a 2.5 year loan at 7% annual interest. The funds are intended to let the company meet its current obligations and release the games it has planned for 2008.
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