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New listing of RENDER CUBE S.A. on NewConnect

The company RENDER CUBE S.A. was newly listed on NewConnect on 22 December 2021.

RENDER CUBE S.A. is the 380^th company listed on NewConnect and the 32^nd new listing on NewConnect in 2021. 

Key information

*at the issue price of series B and C shares equal to PLN 150.00 per share.

Issuer’s history and business

Render Cube S.A., with its seat in Łódź, has been active in the production of computer games since 2012 (as a self-employed individual from 2012 and a limited liability company since 2017). In the early phase of operations, the Issuer focused on the development of game fragments in the work-for-hire model, including graphic objects, level fragments, selected locations. The Company cooperated among others in the following projects: Call of Juarez (produced by Techland studio), Dead Island (also Techland), The Witcher 3 (CD Projekt RED), Green Hell (Creepy Jar), Sniper 3: Ghost Warrior (CI Games). The studio launched its first own production in 2018: the racing game Monster League. In September 2020, the game Medieval Dynasty was released as a production commissioned by Toplitz Productions GmbH in Irdning (Austria). In May 2021, the Issuer decided to acquire the intellectual property rights (IP) to that game and to continue cooperation with the publisher who financed the expenditures incurred for the production and marketing of the game. The Issuer’s future plans focus on the development of the game Medieval Dynasty and its console versions to be produced by the Toplitz Productions group.

Issuer’s strategy

The strategy adopted by the Issuer is based on further development of Medieval Dynasty with the support of the Toplitz Productions group as producer and publisher. The Issuer plans long-term development of Medieval Dynasty taking into account players’ feedback and suggestions. Updates will appear gradually, providing from time to time a significant breakthrough in the development of the game and the interest of users. The following updates are planned:

• console/VR version,
• new playing modes,
• DLC,
• potential sequel in the future.

In a longer time horizon, the Issuer is considering to develop a game with multiplayer elements set in the world of Medieval Dynasty. The Issuer’s Management Board may in the future decide to undertake work on other projects in the Dynasty series based on other IP owned by Toplitz Productions GmbH in Oberhaching. Financing of the development strategy is to rely on funds raised in the issue of series B shares and series C shares carried out in July and August 2021 (the net proceeds from both rounds amounted to PLN 9.3 million) and current proceeds paid by the publisher from the sale of Medieval Dynasty.

The Issuer has not yet started intensive spending of the funds raised in the issue of series B shares and the issue of series C shares because its operations to date have been financed with current net income. The investment process has not yet been initiated due to the team’s focus on the timely development of the full version of Medieval Dynasty which was released on 23 September 2021.

Selected financials of the Issuer (PLN):

Public offering of series B shares

Start date: 7 June 2021

End date: 6 July 2021

Allotment date of financial instruments: 9 July 2021

Quantity of allotted financial instruments: 38,900 series B shares

Issue price: PLN 150.00

Number of persons allotted the shares: 8 (4 natural persons and 4 legal persons including 2 mutual funds)

Offering value: PLN 5,835,000.00

Public offering of series C shares

Start date: 20 July 2021

End date: 10 August 2021

Allotment date of financial instruments: 12 August 2021

Quantity of allotted financial instruments: 25,900 series C shares

Issue price: PLN 150.00

Number of persons allotted the shares: 145 natural persons and 3 legal persons

No instruments were allotted to related parties of the issuer.

Offering value: PLN 3,885,000.00

Public offering to sell series A shares

Start date: 7 June 2021

End date: 6 July 2021

Allotment date of financial instruments: 9 July 2021

Quantity of allotted shares: 43.985 series A shares offered for sale

Price at which financial instruments were acquired and taken up: PLN 150.00

Number of persons allotted the financial instruments in the sale: 13 (7 natural persons and 6 legal persons)

Issuer’s shareholders:

The alternative trading system on NewConnect will list 1,064,800 series A, B and C shares representing 100% of the Company’s outstanding shares in issue.