Left Behind Games Calls off the Merger with Digital Praise

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Left Behind Games announced today that it does not intend to consummate its reverse acquisition by Digital Praise, such that the two Christian game publishers will remain independent entities. Left Behind Games is displeased with the terms of the agreement, thanks to the fact that existing stockholders would be diluted upon completion of the merger. It's a little surprising that Left Behind Games has blamed the dilution for the failure of the merger, as that was specified in the original merger announcement. Presumably, the owners and executives of Left Behind Games just didn't realize how little they were going to get out of the transaction.

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This page contains a single entry by Editor published on April 20, 2010 12:57 PM.

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