Animoca Brands and NEOM join forces to advance Web3 initiatives, aligning with Saudi Vision 2030. A strategic partnership heralding a new digital era.
Major Financial Boost Through Convertible Notes Financing
As a testament to their shared vision and mutual trust, Animoca Brands and the NEOM Investment Fund have put pen to paper on a Convertible Notes Financing Term Sheet. This financial commitment sees the NEOM Investment Fund earmarking a whopping US$50 million for investment in Animoca Brands. Half of this sum, US$25 million, is slated for convertible notes issuance at a capped price of A$4.50 per share. Intriguingly, these terms mirror the strategic funding specifications detailed by Animoca Brands in their announcement from 8 September 2022. The other half, another US$25 million, will find its way into the secondary market to acquire the Company’s shares.
Building a Robust Web3 Ecosystem in the NEOM Region
A Word from the Leaders
Echoing this sentiment, Yat Siu, the visionary co-founder and executive chairman of Animoca Brands, shared, “This alliance with NEOM, a trailblazer in innovation, amplifies our mission to champion the growth of the Web3 world. We see this new era as the birth of a meta-nation, and with NEOM’s collaboration, blockchain’s true power will shine.”
Final Notes
It’s crucial to mention that the finalization of documents for Convertible Notes Financing is contingent on several preceding conditions being met.