Wed, 28 Oct 2020

Guild Esports raises nearly $26M before IPO

Field Level Media
30 Sep 2020, 12:55 GMT+10

Guild Esports, a United Kingdom-based esports organization co-owned by soccer legend David Beckham, announced Tuesday it has raised more than $25 million ahead of its initial public offering on the London Stock Exchange on Friday.

The company announced earlier this month it plans to make 40 percent of its shares available through the IPO, and it was looking to raise $26 million in the IPO.

The company also is banking on Beckham help draw interest to its stock. He will own nearly 5 percent in the company after the IPO, making him the company's fourth-largest shareholder. Among the other shareholders are investment firms Toro Consulting, Blue Star Capital and Schroder Investment Management.

The IPO will make Guild the first publicly traded esports company in the United Kingdom. The company has said it will use the money raised by the IPO to hire new players and to further build out its brand.

Guild currently fields teams in Rocket League and FIFA, and it also wants to field teams in Counter-Strike: Global Offensive and Fortnite.

--Field Level Media

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