Greenberg Traurig advised PCF Group in connection with the Investment Agreement with Cooldown Games and the Public Offering of New Issue Shares

WARSAW - 10 June 2026 - Greenberg Traurig advised PCF Group on the investment agreement concluded with Cooldown Games and the related public offering of new issue shares, conducted through an accelerated bookbuilding (ABB) process.

Under the investment agreement signed with Cooldown Games, a video game publisher based in Austin, Texas, Cooldown Games has assigned to PCF Group's subsidiary People Can Fly Ireland the rights under publishing agreements relating in particular to three video games developed by independent third-party studios, for approx. USD 1.5 million. Cooldown Games committed to reinvest the proceeds in newly issued PCF Group shares and to secure investment in those shares by investors associated with Cooldown Games.

The investment agreement also provides for the Cooldown Games team to join the PCF Group and for the establishment of a publishing team within the group.

In connection with the agreement, PCF Group offered Series I ordinary bearer shares in an ABB process. The offering covered approx. 3.5 million shares at an issue price of PLN 4.00 per share.

The proceeds will be used to finance the acquisition of the publishing rights and the production and release of the games covered by the agreement.

Greenberg Traurig advised on all aspects of the transaction, including the investment agreement and the public offering. Trigon Dom Maklerski S.A. was responsible for coordinating the public offering conducted through the accelerated bookbuilding (ABB) process.

The transaction was led by Rafał Sieński, Partner and Co-Head of the Capital Markets Practice. The team also included Counsel Grzegorz Socha and Senior Associate Adam Marszałek.

People Can Fly was founded in 2002 and is one of the pioneers on the market for shooter games in Europe, and one of the top three most experienced Polish developers of games from the AAA segment. People Can Fly has developed such games as Painkiller (launched in 2004), Bulletstorm (2011), Gears of War: Judgment (2013), Outriders (2021) and Lost Rift (2025).

The shares of PCF Group, which owns the People Can Fly studio, have been listed on the Warsaw Stock Exchange since December 2020.