FIRY sells 10.5% Exit Games stake, unlocking $55M cash
- Firy (FIRY) announced on Monday that it completed the sale of its 10.5% stake in Exit Games back to the company for $55M in cash.
- The deal closed on October 2, with the company receiving the full proceeds, adding cash to its balance sheet.
- It originally invested $50M in July 2021, making the sale a roughly 1.1x return on its investment.
- The company said the cash provides flexibility to pursue other opportunities, while noting its realized return was about 22 times the average five-year distribution multiple for 2021-vintage U.S. venture funds.
- Source: Press Release
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