T-HQ Inc. Stock Sale Raises $4.8 Million
T-HQ Inc., the Calabasas publisher of video game software, said it has raised about $4.8 million through the sale of 8 million units to private investors.
The units consist of one share of common stock, and a warrant to purchase one-half share of common stock of the company at $1 per share.
Proceeds will be used to repay bank debt, and for product development, including further work on a modem to allow video game players to compete over the telephone. T-HQ has an agreement with Catapult Entertainment Inc. to build and sell the device.
