MSG Strategic investment When an extremely successful organization like MSG invest millions of capital, approval by the board is required. Of course Xtract deployment opportunities into MSG's organizational venues come forward. Strategic is a fairly defined term. IMO MSG can see the sigonificany forest beyond the trees, These guys aren't stupid. Distinctly different IMO from the Silicon Valley cash injection into evolv. No skin in the game
In reading between the lines I review who's on the MSG board and what potential synergies come forward.
To name a few key influencers and verticals ......MLB, Health Care and NBA
Chairman and Chief Executive Officer of the Cleveland Guardians Major League Baseball
Executive Vice President, Vice Dean and Chief of Staff NYU Langone Health
President, League Operations, of the NBA from 2006 until his retirement in 2015
Also take into account OVG and massive future venue rollouts with Xtract.
MSG are so well connected, see the opportunity to capture a % of market share inside organizational relationships and grow Xtract as a winner with skin in the game.
IMHO this is strategic and this type of funding will attract institutional investers.