Heroic fail to secure needed capital
The Norwegian organization has called for another extraordinary general meeting next week.
Yesterday we could report that the company behind the successful CS:GO team Heroic and its financial situation was in a critical state. Why an extraordinary general meeting with their investors and shareholders was held yesterday in an attempt to raise enough money to run the esports organization.
NOK 10 million will be needed before summer 2023, while NOK 80 million will be enough to sustain its business until the end of 2025, company CEO, Joachim Haraldsen described in a letter.
However, Heroic did not manage to raise the needed capital at the meeting on Monday, as they call for another extraordinary general meeting Monday the 27th of March.
In the initial attempt, the Norwegian organization made an attempt to bring in ranging from NOK 12 Million to NOK 20 Million at a share price of NOK 2. After the meeting yesterday, they adjusted and lowered it to be between NOK 8 Million and NOK 15 Million, where the share price is NOK 1.
