March 6 (SeeNews) - Bulgarian software developer Gym Realm Technology said that local climbing walls manufacturer Walltopia will subscribe for 8,000 shares of Gym Realm Technology, which will be issued in a forthcoming capital increase.
Gym Realm Technology will raise its capital to 73,770 levs from 65,770 levs, the minutes of a recent Gym Realm Technology shareholders meeting showed.
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The 8,000 shares will be equal to a 10.8% stake in Gym Realm Technology following the capital increase, according to SeeNews calculations.
Walltopia will pay a total of 208,000 euro ($235,000) for the shares.
Gym Realm Technology shareholders approved the proposal at an extraordinary meeting held on February 18.
According to data from Gym Realm Technology's website, Walltopia became a client of the company in 2014 and subsequently invested in Gym Realm Technology in 2015.
Gym Realm Technology develops software for the sport and wellness industry. The company was funded by the Eleven accelerator venture fund in 2013.
Sofia-headquartered Walltopia has offices in the U.S., UK, Canada, Germany, Austria and Russia. The company has completed over 1,800 projects worldwide, with 320,000 sq. m. of climbing surface.
($ = 0.8837 euro)