Firy Sells 10.5% Exit Games Stake for $55M Cash

Seeking Alpha··US·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Firy announced on Monday that it completed the sale of its 10.5% stake in Exit Games back to the company for $55M in cash. The deal closed on October 2, with Firy receiving the full proceeds and adding the cash to its balance sheet. Firy originally invested $50M in July 2021, making the sale a roughly 1.1x return on its investment. The company said the cash provides flexibility to pursue other opportunities, while noting its realized return was about 22 times the average five-year distribution multiple for 2021-vintage U.S. venture funds.

Impact on assets 1

Communication Services▲ · 1 stocks
FIRY
FIRY
▲ PositiveCapitalrelevance

Firy completed the sale of its 10.5% Exit Games stake for $55M cash, a ~1.1x return adding flexibility to its balance sheet.

Off-coverage companies 1

Exit GamesPrivate± Mixed
Capitalrelevance

Exit Games bought back Firy's 10.5% stake for $55M cash, a capital transaction with no clear positive or negative implication stated.

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