AlphaTON Capital plans to acquire a 60% stake in GAMEE for 11 million USD

Gate News, March 19 — Nasdaq-listed company AlphaTON Capital (stock ticker: ATON) announced the signing of a definitive agreement with Animoca Brands to acquire a 60% stake in its mobile gaming platform GAMEE for up to $11 million. The transaction values GAMEE at a total of $18 million. Both parties also signed a strategic alliance agreement to jointly explore business opportunities in blockchain and social gaming. The deal is expected to be completed within 30 days.

According to the agreement, the total transaction price will be paid in three parts: $3.5 million at closing, including $1.5 million in cash, approximately $2 million worth of ATON stock, and pre-paid warrants. Additionally, AlphaTON will purchase $2 million worth of GMEE tokens from the open market within 90 days after closing.

Performance-based earnouts include a maximum payment of $3.5 million in the first year (comprising $2 million in cash and $1.5 million worth of ATON stock), triggered if GAMEE’s annual EBITDA reaches $1.2 million. In the second year, a maximum payment of $4 million (including $2 million in cash and $2 million worth of ATON stock) will be paid if EBITDA reaches $1.6 million.

Furthermore, the deal involves the transfer of approximately 878 million GMEE tokens and about 20.478 billion WAT tokens from Animoca Brands’ treasury, representing 51% of each token’s holdings.