Singapore pop culture collector XM Studios has raised $ 4.5 million in a token offering on the ADDX investment platform.
Anchored by Heliconia Capital of Temasek, the operation is the first equity investment offered to ADDX.
The bid exceeded the company’s initial fundraising goal 1.75 times. The size of the operation was increased by US $ 1.5 million to $ 4.5 billion.
The minimum investment size for the XM Studios deal was $ 10,000, below the typical $ 1 million minimum size for those investments, ADDX and XM Studios said in a joint statement.
Heliconia anchored the deal with a $ 1 million investment and the round also featured the participation of accredited global investors.
The symbolized offer of ADDX materialized in exchangeable exchangeable tickets for shares of XM Studios, with a significant discount. The notes will mature at an annual interest rate of six percent if they are not exchanged within 18 months.
Fund to take advantage of new opportunities, the IPO of XM Studios
“The new capital allows XM Studios to seize opportunities in the next phase of our expansion, in new markets and new segments, such as premium mass collecting, which allows fans to buy their favorite collectibles at a price range more affordable, ”said XM Studios co-founder and CEO Ben Ang.
Second, Heliconia had secured a 9.2% stake in XM Studios through a secondary share transaction normative files.
XM Studios said The Business Times that it reflects on a public list and that the Singapore Exchange is one of its possible options.
From a humble hobby shop in Bras Basah to a global brand
XM Studios started from a humble fan shop at the Bras Basah complex in 1997. It was run by the Ang brothers.
Today it is a global brand with distribution in 18 markets.
The company can manufacture collectible statues from popular comic book brands such as Marvel, Star Wars, DC, Transformers and Sanrio thanks to its possession of more than 12 licenses.
Each collectible ranges from less than € 1,000 to € 6,000.
XM Studios recorded double the revenue last year to US $ 16.9 million, up from $ 7.9 million in 2019. It also made a profit of $ 4.2 million.
Featured Image Credit: XM Studios