Adelaide-based game developer Mighty Kingdom was after $7 million at 3.5¢ a share, an 8.6 per cent discount to the last close and 20 per cent discount to the five-day volume-weighted average price.Term sheet sent to potential investors said Mighty Kingdom, which listed in April 2021 but has faced delays in game launches, was getting its house in order. It had appointed three new non-executive directors, was targeting cashflow breakeven in the second quarter of 2023 and had added Gamestar+ Interactive Inc founder and chief executive Shane Yeend as a significant investor.
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