Animoca Brands raises $3.3 million, taking total acquisition warchest to $12 million

More deals on the way

Hong Kong-based, Australia-floated Animoca Brands (ASX: AB1) is continuing its aggressive expansion into the blockchain sector with a new fund raise.

It’s closed what it calls a “heavily overscribed” strategic capital raise of $3.3 million (A$4.6 million).

Animoca Brands has raised $12 million and ended its financial year with over $5 million in cash.

This was conducted at a share price of A$0.10 per share, which is a 4% premium to the 30 day average for Animoca Brands’ share.

Investors also gain the option to buy one additional share per two shares owned at A$0.125 if they hold their shares for 15 months.

Investors taking part in the raise included: Stellar Partners, Blocore, Plutus VC, Perennial Value Management and SG Hiscock.

Australian gaming industry veteran Michael Ephriam, the ex-MD of Sony Computer Entertainment (SCE) ANZ, and tech investor and major shareholder Simon Clausen took part, as did Animoca Brands’ chairman and co-founder Yat Siu (subject to shareholder approval).

Existing shareholders Sung Hung Kai, Katherine Yip-Ribeiro (founder of Pacific Alliance Group and co-founder and partner of Vina Capital), and Moses Tsang also participated.

More money, more deals

To-date Animoca Brands has raised around $12 million (A$16.55 million) and ended its financial year with over $5 million (A$7.7 million) in cash.

Its acquisitions include The Sandbox developer Pixowl and the Zeroth AI accelerator and investment into CryptoKitties’ developer Dapper Labs.

It’s also just announced a deal to acquire German developer Stryking in an all-share deal worth $1.1 million, with a performance earnout of up to $2.2 million dependent on future performance.

You can find out more about Animoca Brands’ strategy in our interview with chairman Yat Siu.

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