|Atari gets $2M loan, selling its assets|
|Posted: 06.02.2013 05:12 by JonahFalcon||Comments: 2|
Atari has announced in a press release that the company has closed $2 million of interim DIP financing, and once approved by the court will allow the company to receive $3M more.
This is in preparation for selling its assets to allow it to be "free and clear of existing liabilities and the complicated capital structure at its parent company in France."
According to CEO Jim Wilson, "We hired Perella Weinberg Partners, which is subject to court approval, because they clearly understand and are excited about the significant opportunity associated with the iconic Atari brand and its rich library of classic arcade and more recent game franchises. The global reach and breadth of Atari have the potential for significant value creation in games, media & entertainment, technology and licensing sectors and provides a great opportunity for the Company' stakeholders."
Atari's assets include most of its mobile versions of classic Atari games as well as Baldur's Gate: Enhanced Edition and flash versions of its arcade games (which can be played free .)