deals, Financing, Games
NTN Buzztime Raises Capital
Bruce V. Bigelow 5/26/09
In a notice filed with the U.S. Securities and Exchange Commission, NTN Buzztime (AMEX: NTN) of Carlsbad, CA, says it has raised $2.25 million in a private sale of stock and options. The deal was part of Buzztime’s recent acquisition of assets from Denver, CO-based Instant Access Media. Buzztime provides games distributed on cable TV, satellite TV and online to approximately 3,750 restaurants, sports bars and pubs throughout North America. Buzztime recently announced it was buying assets from Instant Access that includes 1,400 flat-panel television screens in 360 hospitality venues. As part of the deal, Buzztime said investors in Instant Access are buying shares of NTN common stock in a private placement raising $750,000 in additional working capital.
Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492
