Shanghai, China, Aug. 20, 2019 (GLOBE NEWSWIRE) -- FunJumping Inc. (“FunJumping” or “the Company”) has announced the first round of its tokenized securities offering to raise up to US$10.0 million at a price of US$1.00 per BCS for expansion of its BlaCat blockchain gaming platform.
FunJumping’s first round of funding entails issuing BCS securities tokens representing digital certificates of ownership of the Company’s senior preference shares. Each BCS senior preference share will have preference over the Company’s ordinary shares in payment of dividends. Owners of BCS are collectively entitled to receive dividends, beginning one year from the initial closing, equal to 1% of the FunJumping group’s quarterly revenue, paid in arrears. The BCS senior preference shares will be converted into the Company’s ordinary shares upon the earliest of the registered initial public offering of the ordinary shares, the sale of the Company, or maturity at 10 years from the initial closing date, at the rate of 7.5 BCS per ordinary share. The BCS will be offered in a SEC Rule 506(c) private placement to accredited US investors and under Reg S to non-US investors. The first round will run for six months or until US$10.0 million has been raised, with a minimum investment amount of US$25,000 for US investors and US$1,000 for non-US investors. Ensign Capital is serving as the Placement Agent. Potential investors should refer to the Company’s Offering Memorandum and the Company’s Memorandum and Articles of Association for a full description of the offering and terms of the BCS.
Founded by gaming industry veterans Sean Chen and Robin Xiao, FunJumping has developed BlaCat, a comprehensive gaming ecosystem based on NEO blockchain technology that solves problems inherent in the current gaming industry. BlaCat avoids third-party game publishers, allowing developers to keep the majority of their profits; the Company provides financial support for selected certified game developers and an open source SDK that will help them bring their games to market quickly. BlaCat also will offer gamers the ability to retain full ownership of game assets in a transparent game economy with a trustworthy peer-to-peer virtual exchange marketplace. The Company expects three to five games to go live in the 2019 third quarter, with more by year-end, depending on the amount of funds raised.
Visit https://investor.blacat.game, where the Company’s Offering Memorandum, the Company’s Memorandum and Articles of Association and other information are available. You can also visit the Company’s social media platforms on Instagram, Twitter, Medium, Telegram and others. No information other than contained in the Offering Memorandum or the exhibits incorporated into the Offering Memorandum may be relied upon in making an investment decision.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
The BCS represent an equity interest in the Company. The BCS are not a digital currency, crypto-currency or a commodity. Holders of the BCS are not entitled to any utility from the BCS.
About FunJumping Inc.
Founded by gaming industry veterans Sean Chen and Robin Xiao, FunJumping has developed the BlaCat blockchain gaming platform to solve problems inherent in the current gaming economy. When complete, BlaCat will be a scalable and comprehensive blockchain video game platform for every genre of games, including real-time strategy, massively multiplayer online, turn based, and on every major operating system. BlaCat avoids third-party publishers, allowing developers to keep the majority of their profits. With no special blockchain programming knowledge required, BlaCat offers developers an open-source software development kit (SDK) based on NEO blockchain technology, providing an exciting gameplay site, fast and easy monetization of games and digital assets, crowdfunding opportunities and in-game advertising. Just as important, BlaCat offers gamers full ownership of their digital game assets via a user-friendly wallet, providing for a transparent game economy with a trustworthy peer-to-peer virtual exchange marketplace. For more information visit www.funjumping.org or https://ir.blacat.game/.
FunJumping Inc. is an exempted company incorporated in the Cayman Islands with limited liability.
This press release contains forward-looking statements. All statements other than statements of historical fact are “forward-looking statements” for purposes of U.S. federal securities laws, including any projections of earnings, revenues or other financial items; any statements regarding the adequacy, availability and sources of capital; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new products, services or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Such forward-looking statements may be contained in the sections “Risk Factors” and “The BlaCat Platform,” among other places in the Company’s Offering Memorandum. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
The material provided herein is for informational purposes only. This release does not constitute an offer to sell or a solicitation of an offer to buy any BCS, nor shall there be any offer or sale of BCS in any state of the United States or any territory or jurisdiction outside the United States in which such offer, solicitation or sale would be unlawful. Any sale of BCS would be made only through a subscription agreement at FunJumping’s investment portal, the terms of which supersede any description contained herein. FunJumping undertakes no obligation to update any information contained in this release.
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