Wemade 500 billion ‘10 times increase’… Com2uS Holdings and Pearl Abyss also sold 200 billion won
The game industry is raising the issuance limit of convertible bonds and bonds with warrants to secure investment capacity.
According to related industries on the 18th, WeMade, Com2uS Holdings, and Pearl Abyss decided to hold a general meeting of shareholders this month and increase the issuance limit of CB and BW by changing the articles of association.
In the case of WeMade, the 22nd regular general meeting of shareholders will be held on the 31st and resolutions including partial changes to the articles of association will be decided. Removal of the clause limiting the number of people granted stock options, and addition of clauses on the stock options. The most eye-catching part is the change in CB and BW issuance limits. The issuance limit will be significantly increased from KRW 50 billion to KRW 500 billion.
The same goes for Com2uS Holdings. At the 22nd regular general meeting of shareholders on the 30th, the amendment of the articles of incorporation, including the increase of the CB and BW issuance limits, will be decided. It was decided to raise the limit from the previous 80 billion won to 250 billion won. Pearl Abyss will also increase from 10 billion won to 200 billion won. It was raised as an agenda item for the 13th regular general meeting of shareholders on the 30th.
Increasing the CB and BW issuance limits by these companies is a preliminary step towards expanding their business in the future. Although there is no immediate need for investment or issuance of bonds, the strategy is to expand the capacity to secure investment resources in advance.
In fact, WeMade and Com2uS Holdings are in the position of changing the Articles of Incorporation to anticipate future investment possibilities. An official from Com2uS Holdings explained, “While we are investing in the block chain sector, we have decided to expand it as a maintenance measure to prepare for unforeseen circumstances.”
Wemade is currently accelerating its penetration into the play-to-one game market based on blockchain technology. After the success of ‘Mir 4 Global’ last year, it is actively investing and partnering with the goal of onboarding 100 games to the blockchain platform ‘Wemix’ by the end of this year. In the acquisition of Sunday Toz, the developer of the ‘Anipang’ series, which announced the change of name to Wemade Play, 166.7 billion won was invested, including 84 billion won in the acquisition of former stockholders, 52.7 billion won in capital increase, and 30 billion won in BW acquisition.
Com2uS Holdings, together with Com2uS and its affiliates, is investing in blockchain game and metaverse businesses. Last year, Com2uS Holdings and Com2us invested about 500 billion won in related fields alone. Com2uS Holdings invested about 100 billion won and Com2us about 400 billion won. Coinone, a virtual asset exchange, Wysiwick Studio, which became famous for special effects in the movie Victory, as well as Animoca Brands, Candy Digital, The Sandbox, Upland, Mystical Games, 5×5 Gaming, etc. Invested in assets and metaverse companies.
Pearl Abyss is also developing new titles such as Red Desert and Goblin, as well as advancing into the P2E market and entering the metaverse business using its own developed engine. Based on many years of research on blockchain technology, it is planning to enter the P2E market in stages, and the engine is also looking for ways to engage in activities other than games, metaverse and other fields. It also foreshadowed the entry of Black Desert Mobile into China and the launch of Black Clover mobile game of its subsidiary Big Game Studio.
Some raise the possibility that excessive bond issuance may lead to a loss of value to existing shareholders. However, there is an opinion that it can be a good thing for companies with a clear business plan.
An industry insider said, “There is a risk that excessive bond issuance will damage existing shareholder value, but it can be a positive news because there are many places to invest in large-cap stocks of 1 trillion won or more, such as Wemade and Pearl Abyss.” It can be interpreted as thinking about investment in