Mad Catz negotiates $25 million at-the-market equity sales agreement

Ascendiant Capital raises funds to enhance liquidity, working capital

By Devika Patel

Knoxville, Tenn., Nov. 5 – Mad Catz Interactive, Inc. arranged a $25 million at the market equity sales agreement with Ascendiant Capital Markets, LLC on Nov. 5, according to an 8-K and prospectus supplement filed Thursday with the Securities and Exchange Commission.

Ascendiant will be paid a 3% commission.

Proceeds will be used to enhance liquidity, working capital and operational flexibility and for general corporate purposes, including pursuing long-term growth opportunities in the console, PC gaming, and mobile gaming markets.

Based in San Diego, Mad Catz produces and sells accessories for videogame platforms, personal computers and audio devices.

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