Infinium agrees $50 million credit line
Broadband game delivery proponent Infinium Labs has announced that it has secured a $50 million credit facility from an institutional investor, replacing a previously announced financing deal for $44 million.
The new deal, which has been arranged by Infinium advisor HPC Capital Management, was welcomed by Infinium CEO Timothy Roberts, who said that it is "less dilutive to shareholders, provides better terms and is a better fit for the company's capital and budgetary needs."
Securing a credit line for the company is an important step as it moves towards the US launch of the Phantom Game Service on November 18th. Subscribers to the service will receive a free Phantom Game Receiver console, which is used to access game content over the broadband network.
Infinium premiered the device at the E3 trade show last May, and is expected to announce further details of software support for the service during the month of August.