WARSAW – 22 June 2023 – Greenberg Traurig advised PCF Group on its public offering of newly issued shares. The newly issued shares were almost entirely subscribed for by KRAFTON, a South Korean video game developer, pursuant to the investment agreement concluded in March this year.
The value of the transaction amounted to almost PLN 135 million.
Greenberg Traurig advised on all aspects of the transaction as well as on the previously concluded investment agreement.
The transaction was led by Rafał Sieński, Partner and Co-Head of the Capital Markets Practice.
The team also included Senior Associate Grzegorz Socha and Junior Associates Kamil Nagawski and Szymon Świerszcz.
People Can Fly was founded in 2002 and is one of the pioneers on the market for shooter games in Europe, and one of the top three most experienced Polish developers of games from the AAA segment. People Can Fly has developed such games as Painkiller (launched in 2004), Bulletstorm (2011), Gears of War: Judgment (2013) and Outriders (2021).
The shares of PCF Group, which owns the People Can Fly studio, have been listed on the Warsaw Stock Exchange since December 2020.