Looks like Star Citizen and Squadron 42 company Cloud Imperium just got a bit more rope, as its investor groups have bought up more shares worth $17.25M in additional funds.
“Today, Cloud Imperium announced that existing investors – the Calder Family Office, Snoot Entertainment, and ITG Investment – have exercised a one-time option to purchase further shares in the company. The share prices reflect a discounted option price for existing shareholders that was pre-negotiated at the time of the initial investment in 2018. There were no changes to the Board composition as a result of this transaction. Chris Roberts continues to maintain full control of the Board and Group.”
MMO players will recall that Calder and Snoot (this needs to be a band name) were the same investor units that pumped $46M into the company back at the end of 2018, bringing CIG’s then-valuation to just under half a billion dollars and adding two new members to the board. Since then, the game’s crowdfunding alone has topped $250M.
