Staminier Limited, a portfolio company of GreenBank Capital, has agreed to acquire up to 21% of NARC Limited, the developer of “Beyond Ever After”, a next-generation massive multiplayer online (MMO) game designed for the metaverse, Business News Canada reported.
Under the deal, Staminier, through its subsidiary Substantia, has agreed to invest an initial £525,000 at 75 Euros per NARC share for an initial 2.6% stake of NARC’s fully diluted share capital.
Staminier reported to GreenBank that at the time of this news release, £375,000 of these funds have already been paid to NARC, with a remaining £150,000 still to come in the initial investment.
Staminier also has an option to invest a further £4,941,779 at valuations up to 120 Euros per NARC share. Were Staminier to independently choose to fund both the Initial Investment and the Secondary investment, Substantia would own 21% of the fully diluted capital of NARC.
Read Full Story : Staminier acquires stake in metaverse MMO game creator NARC