O&A, P.C., client Telltale Games has completed its first round of preferred equity financing, with Hiro Capital LLP and Skybound Entertainment LLC leading the Series A.
The video game studio, a pioneer in episodic narrative adventure games such as The Walking Dead and The Wolf Among Us, was formed in 2012. In 2019, LCG Entertainment purchased a substantial portion of Telltale’s assets and relaunched the company, which is led by CEO Jamie Ottilie, a gaming industry veteran.
“We are honored to have the confidence of Hiro Capital, a fund that is committed to the future of the games industry, and that of our colleagues at Skybound Entertainment,” Ottilie said in a statement. “It’s both a pleasure and a natural fit to be affiliated with companies that share our commitment to narrative games and transmedia entertainment.”
O&A represented Telltale in the deal, while Hiro Capital was represented by Wilson, Sonsini, Goodwin & Rosati, and Skybound was represented by its in-house counsel.
O&A Managing Partner Dan Offner led the deal negotiations, while O&A Associate Attorneys Andrew Yang, Claudia Herrera, Liana Minassian, and Sharthak Mukhopadhyay worked on the transaction documents, ancillary documents, capitalization table, and disclosure schedule, and maintained communication with the stockholders and SAFE holders.
“We are thrilled to have helped Jamie Ottilie and the team at the new Telltale with its Series A financing,” Offner said. “We believe that Jamie and Telltale with the help of Hiro and Skybound will build the next generation of narrative, story-based games. We look forward to Telltale’s release of its Expanse game.”
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