Interplay And Titus Sign $25 Million Deal

Interplay Entertainment has the latest July 1999 move: Interplay And Titus Sign $25 Million Deal. Interplay Entertainment says that it has signed an agreement with Titus Interactive, a European interactive entertainment software company, pursuant to which Titus will purchase 6.25 million shares of Interplay Common Stock at a price of $4.00 per share. The transaction is subject to standard conditions, including the approval of the Interplay stockholders, and is expected to close in late August 1999 following the Interplay stockholders meeting currently scheduled for August 24, 1999. the company will use the net proceeds of the sale for repayment of debt, additional working capital and other general corporate purposes.