(Reuters) – Shares in David Beckham-backed Guild Esports soared more than 54% in early trading on Monday after the gaming company said it planned to agree to a takeover bid from California-based investment manager DCB Sports.
Guild Esports, which did not disclose financial details of the deal, said last week it was “actively exploring” a range of options to enable it to meet its short-term liabilities.
The gaming company floated in late 2020 with a market capitalization of £41.2 million ($52.6 million), and its shares have since fallen by around 99%.
The London-listed company said in a statement: “If the deal is completed, DCB Sports will assume and operate the Guild brand, supporting the private business’s future working capital needs and providing sufficient ongoing capital to enable it to operate on a stable financial platform. operation.
The potential deal includes all of its assets and assumed liabilities, the company said, adding that it would be Deutsche Bank Sports’ first investment in esports.
According to data from the London Stock Exchange Group, former England football captain Beckham is a founding shareholder of Guild and is currently the sixth largest shareholder of Guild, holding 3.05% of the shares.
($1 = 0.7828 British pounds)
