a great article This Tech Umbrella Bends Reality
Victory Square Immerses Itself in Virtual Ventures
Dubbed by many “a unicorn of unicorns,” this venture capital incubator never has a dull moment, with research, development, IPOs, and cutting-edge acquisitions happening at rapid speed. The biggest driving factor that propels this company is a knack for scouting disruption. Only the most innovative, advanced and open-minded ventures will have a chance to make it on this company’s roster. Once they’ve locked in a venture and injected the capital, their expertise and market agility do the rest of the talking.
After FansUnite, a subsidiary of Victory Square, hit the market, their valuation skyrocketed, bringing new life and opportunity to a great, disruptive idea; not to mention the outstanding return it brought he incubator and its investors.
Today we’re going to look into the latest happenings in the world of Victory Square Technologies.
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Strap In
Picture yourself in Europe, cruising down the Autobahn highway.
By cruising, I mean ripping down the highway, pedal to the floor, on a legendary strip of pavement with no speed limit in sight.
With the world shut down, that may seem out of the question... unless you do it at the Autobahn Indoor Speedway.
After you hop out of your kart, you can head directly into the brand-new virtual reality box to immerse yourself and a few friends in some interactive video games that, also, feel shockingly real.
This is exactly what’s possible, now that the Autobahn Indoor Speedway (AIS) has agreed to install UNCONTAINED units in their locations across North America.
UNCONTAINED has been designed for implementation in location-based entertainment centers, such as AIS, that come in all sorts of shapes and sizes. Complete with motion floors, heating/cooling, air blast effects, all-encompassing aromas, and other physical sensations, this LOI will fully showcase the appeal of UNCONTAINED in not just the business of AR/VR, but entertainment of all types.
AIS has agreed to acquire one unit, with the option to purchase another 10 for the remaining locations.
We have a feeling those 10 will be scooped up in no time.
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On the Back End
Immersive Tech is currently undergoing a C$1.5 million financing for their public market debut. Not only healthy in fundamentals, Immersive will be all but strapped for cash, as strong investor demand has extended this financing beyond the 4,285,724 shares originally planned for issuance.
For a more secure approach, the shares are being issued as “subscription receipts,” which are structured in a way that returns the funds to all investors if the company doesn’t successfully list by a certain date. In this case, that’s August 31, 2021.
You may notice that, in venture capital, private placements can sometimes stay locked up in a private company for years before finally hitting the market. Not fun! Subscription receipts completely eliminate this risk for investors, thus decreasing the opportunity risk associated with putting aside a large sum.
Each subscription receipt comes equipped with a ½ warrant at $0.52, giving the investor the right to purchase 1 share of Immersive Tech at $0.52 for every 2 shares they own at $0.35, for a period of 24 months following the market debut.
In case you are fuzzy about how warrants work, check out our piece on Options to get a refresher.
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Not Just Oversubscribed with Capital, But with Talent Too
A trifecta of skilled members has joined the team at Immersive.
We introduce you to the following:
Kevin Williams: a member of an exclusive and elite Walt Disney alumni following his years as an esteemed Walt Disney Imagineer. Imagineers are the creative engine that designs and builds all Disney theme parks, resorts, attractions, and cruise attractions worldwide.
Cathy Hackl: one of LinkedIn’s top technology voices, who was named one of the Top 10 Most Influential Women in Tech in 2020 by BigThink.
Lance Priebe: Co-Founder of one of the largest online game platforms for kids, Club Penguin, which was acquired by Disney for $360 million…
Immersive Tech’s CEO Tim Bieber said, “We are absolutely thrilled to welcome these three industry icons to our Advisory Board. The team is eager to have Kevin, Cathy and Lance become active players in the company’s endeavors with his comprehensive approach to business expansion, elite design skills, and VR experience within the gaming sector. Immersive Tech is expertly positioned to crush our chosen markets with the hands-on expertise of our distinguished Advisory Board members.”
Priebe, who has a US$360 million Disney-induced exit from his platform Club Penguin, had some words to say regarding UNCONTAINED:
“I feel Immersive Tech is onto something special with their first VR free roam game within the world’s most interactive multiplayer shipping container, and I have no doubt this VR experience will delight and inspire fans around the world,” commented Priebe.
Priebe looks forward to sharing his professional perspective on growing, globally recognized gaming experiences with Immersive Tech to further advance its influence, specifically within the world of Location-based VR attractions.