Titus equity investment of $25 million in Interplay

Titus equity investment of $25 million in Interplay is the latest item crossing the POCG news desk. Titus Interactive S.A., a publicly traded French company has signed a letter of intent to make a strategic equity investment of $25 million in Interplay purchasing 6.25 million shares of Common Stock at $4 per share.

In connection with this proposed transaction, Brian Fargo, Interplay’s chairman and chief executive officer, would also swap two million personal shares of Interplay Common Stock for an agreed upon number of Titus shares. This investment follows the March 19, 1999 transaction in which Titus purchased shares of Interplay Entertainment Common Stock for $10 million. The obligations of Titus are subject to Titus and Interplay entering into definitive agreements.