NFT and video game seller Ultimax Digital updates terms for $18M IPO

wutwhanfoto Video game and NFT marketer Ultimax Digital (NFTX) has updated terms for a proposed $18M initial public offering, of which half the shares would be offered by certain stockholders. Ultimax said in a filing that it is now looking to offer 1.9M shares priced between $4 and $5, which would raised the company around $9M if priced at the midpoint. Selling shareholders would likewise offer 1.9M shares at the same price. Underwriters would be granted a 45-day option to buy up to 281K additional shares at the IPO price. WestPark Capital is serving as lead bookrunner. The tech company hopes to list its shares on Nasdaq under the symbol NFTU. The deal is slightly downsized from terms described in a filing in December, which called for 2.5M shares to be offering between $4 and $5, which would have raised $11M, and an additional 1.3M to be offered by selling shareholders at the same price, which would have amounted to around $6M. Video game publisher Ultimax markets the kids’ game Geminose. A second game, StoneHold, was slated to be launched during the third quarter. Ultimax is also developing an NFT marketplace that will feature NFT-based “trading cards” of video game characters. In September, Ultimax proposed offering 2.5M shares priced between $4 and $5, which would have raised around $11M if priced at the midpoint.

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