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(Alliance News) - Gunsynd PLC and Pires Investments PLC on Monday noted pool betting investee Low6 Ltd has extended a pre-float funding round as a "leading" gaming firm eyes investing in the company.
Gunsynd and Pires back in December subscribed for 6,667 Low6 shares at GBP30 per share, GBP200,010 in total.
In the fourth quarter of last year, Low6 raised AUD6 million, about GBP3.3 million, in a pre-IPO funding round.
"Low6 has advised that it is proposing to extend the pre-IPO round to allow further investment from a leading gaming industry player," Pires said.
"Any additional funds raised would provide Low6 with further working capital as its users continue to increase, moving ahead of the company's internal projections."
Low6 works with influencers and sports teams to provide betting pool services. The company works with the likes of mixed martial arts promotion Ultimate Fighting Championship, UK football outfit Rangers Football Club and the Professional Darts Corp.
Low6's listing in Sydney is expected in the second quarter of 2021.
Pires shares were 0.6% higher at 15.81 pence each in London on Monday morning. Gunsynd shares were up 2.4% at 1.87p.
By Eric Cunha; ericcunha@alliancenews.com
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