Infinium Labs announces revised stock purchase

Infinium Labs announces a stock purchase agreement worth $44 million, replacing the $15 million commitments announced in January.

Infinium Labs has today announced a revised stock purchase agreement with commitments of $44 million, replacing the $15 million financing commitments announced in January. Investors SBI-USA and Infinium Investment Partners, an affiliate of Trilogy Capital Partners, have been joined by HaDavar HaNachon LLC in the increased commitments to back Infinium's upcoming Phantom Gaming Service.

"The participants in our new financing commitments share our vision for a new content delivery service in the high-growth video game industry. Together, they are committing to provide the financial resources that we estimate will be necessary to launch the Phantom Gaming Service this holiday season," said Timothy Roberts, chairman and chief executive officer at Infinium Labs. "We believe Infinium Labs' Phantom Gaming Service will make a major entry in this worldwide market."

"We agreed to increase our investment in Infinium because we believe the management team has demonstrated its ability to create a cutting-edge delivery system that will be able to capture demand for new types of game services into the home and to expand the video gaming market," added Shelly Singhal, managing director of SBI-USA.

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