NODWIN invests into Freaks 4U Gaming

A recent filing revealed that NODWIN inked a deal with the German esports marketing entity Freaks 4U Gaming. The latter part of the agreement carried a convertible note valued at ₹33.26 Crores ($3.9 Million USD).

Convertible notes, akin to bonds, offer the possibility of conversion to company stock based on predefined circumstances and conditions. The convertible note, if exercised, will result in the conversion of 7,366 shares at a future date, with the shareholding percentage contingent upon the terms and conditions of the note.

NODWIN's cash injection couldn't have come at a better time for Freaks 4U Gaming considering their recent financial challenges. The latter took to LinkedIn in November, announcing that layoffs were in order pretty soon. Nearly 30 positions were on the verge of getting cut.

A couple of months back, NODWIN sent the winners of DreamHack Hyderabad 2023 to compete in a BLAST Premier show match, revealing their partnership with BLAST. The partnership's maiden venture kicks off in the form of "The Draft".