Technology firm Xurpas is set to receive $900,982 from the sale of its stake in Singapore-based Altitude Games Pte Ltd’s assets and business, according to a regulatory filing.
Xurpas will sell its 21.17 percent shares in Altitude Games Pte. Ltd to an Australian company, which will allow Altitude to settle the convertible debt it previously issued to Xurpas.
The sale is effective upon signing of definitive agreements and Xurpas will receive the net proceeds from the sale and discharge of liabilities upon completion of certain deliverables.
Xurpas had purchased Altitude Games Pte. Ltd in December 2014 as its first investment after its initial public offering in the same year.