LogInAfter facing challenges, it seems that tinyBuild is getting back on track.
Image credit: tinyBuild, Hello Neighbor 2
On Thursday, Atari announced its agreement to invest $2 million in tinyBuild as part of the latter's announced capital increase.
"tinyBuild is an amazing company, with industry-leading games and benefiting from an expansive fan base. Atari is excited to participate in the current capital transaction as tinyBuild’s approach to the indie games market is in line with Atari's long-term approach," stated Wade Rosen, Chairman and CEO of Atari.
On December 21, 2023, tinyBuild announced its plans for a $14 million capital increase through the issuance of new shares. The board of directors is set to review and approve Atari's proposal on January 18. Upon receiving shareholder approval and completing the capital increase, Atari will hold approximately 7.5% of tinyBuild's overall share capital.
As a game publisher, tinyBuild has released numerous indie titles, including Hello Neighbor 2, Tinykin, Potion Craft: Alchemist Simulator, Not for Broadcast, Kill It with Fire, Pathologic 2, The Final Station, Punch Club, and many others.
It's worth noting that tinyBuild has faced significant financial challenges recently. In the summer, the company's shares plummeted by 80% following an unfavorable financial report, and in October, they had to undergo massive layoffs and faced near-bankruptcy.
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