Pine Games – Equity Investment Success Story
Pine Games, a Turkey-based gaming company, partnered with Manay CPA to grow in the U.S. market. Structured as a Delaware C-Corp, the company successfully raised $2,249,996 through equity investment from venture capitalists. At Manay CPA, we successfully managed the company’s corporate structuring in the U.S., all VC-side paperwork processes, and financial advisory services throughout the investment process.
Industry
Gaming
Headquarters
Delaware, US
Founded
-
Company Size
Growth Stage
Key Markets
Global
Growth Stage
Equity Round
Website
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Table of Contents
About the Case
Pine Games is a successful Turkish gaming company that was structured as a Delaware C-Corp in the U.S. and received equity-based investment from venture capital investors. A total of $2,249,996 in equity investment was successfully completed.
Manay CPA provided comprehensive financial advisory services from corporate structuring in the U.S. through all stages of the equity investment process. The detailed valuation work, share purchase agreement preparation, and investor rights arrangements required by equity-based investment were meticulously managed.
Challanges
Pine Games’ primary challenges included the complex legal structure of the equity investment process. Equity-based investments required detailed negotiation and documentation around valuation, share class structuring, and investor rights (pro-rata, anti-dilution, board seats).
Additionally, optimal tax structuring under the Turkey-U.S. double taxation treaty, cap table management, and establishing corporate governance standards were significant challenges.
Solutions
At Manay CPA, we handled the Delaware C-Corp formation for Pine Games. We conducted comprehensive valuation work for the equity investment process and prepared the share purchase agreement and shareholders agreement documents.
We played an active role as financial advisors in negotiations with VCs and ensured the successful closing of the $2,249,996 equity investment. We provided ongoing support in 409A valuation, tax compliance, financial reporting, and corporate governance.
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