Take-Two Secures $22 Million in Private Stock Placement

Net proceeds approximating $20.8 million will go toward prepaying $15 million in debt bearing 12.5% interest owed to Finova Mezzanine Capital, and reducing other outstanding debts on its line of credit. These moves will bring the company's debt to equity ratio to its best level in 11 quarters by the end of the company's fiscal Q3, according to Take-Two.