Guild Esports PLC (LSE:GILD, OTCQB:GULDF) has announced a new unsecured convertible loan agreement, with the company borrowing £250,000 from Compassare Holdings over a one-year term.
The loan carries interest at 8% and it is expected to be repaid on 25 March 2025. The loan notes are in the meantime convertible into shares, at a conversion price of 0.375p each, which would be a premium of 25% to the current price.
It will be used to satisfy working capital requirements, the company said in a statement.
Compassare is a UAE-based investment company with holdings across sectors including oil and gas, food and beverages, technology and sustainable solutions, the company noted.