Gfinity, the esports and gaming company, saw its shares drop 30% to the placing price of 0.25 pence after completing a £250,000 fundraise. The company issued 100 million new shares at 0.25 pence each to raise the funds.
The placing price matched the previous day's closing price, but the stock fell sharply as trading resumed. The fundraise was conducted through an accelerated bookbuild and was fully subscribed.
Gfinity stated the proceeds will be used for working capital and to support its ongoing business operations. The company has faced financial challenges in recent years, including revenue declines and restructuring efforts.
As of June 2026, Gfinity's market capitalization stands at approximately £2.5 million. The company continues to focus on its core esports tournament platform and media business.
