T-HQ Inc, Calabasas, California publisher of video game software has won a $3m letter-of-credit financing facility for its domestic operations, and has entered into a letter of intent for a further $1.75m letter-of-credit facility for its foreign operations. It also completed a private placing of 2.5m new shares raising $1.25m for the company; as a result it will not need to make its planned public offer. The company is exploiting the XBand video game modem developed by Catapult Entertainment Inc, which will enabled video game players to compete against one another in real time over telephone lines on the XBand network run by Catapult.
