Remedy Secures €15 Million Convertible Loan from Tencent

The loan will support the Finnish developer's move towards self-publishing and expand Tencent's stake in the company.

The €15 million loan from Tencent is subject to approval at Remedy's Extraordinary General Meeting on October 24, 2024.
The loan includes an 8% annual non-cash interest rate and can be converted to a maximum of 811,110 new shares, representing 5.98% of Remedy's total shares.
Tencent's stake in Remedy could increase to around 20% if the loan is converted to shares.
Remedy aims to use the funding to support its development and self-publishing efforts, enhancing control over the commercialization of its games.
Recently, Remedy partnered with Annapurna Pictures to co-finance Control 2 and adapt the Alan Wake and Control IPs for film and TV.