Captivision Inc. Files 20-F/A Amendment

TL;DR

Captivision Inc. (formerly Phygital Immersive Ltd) filed its 20-F/A for 2023, check it for financial updates.

AI Summary

Captivision Inc. filed an amendment to its 20-F form on May 24, 2024, for the fiscal year ending December 31, 2023. The company, formerly known as Phygital Immersive Ltd, is incorporated in M5 and operates in the miscellaneous electrical machinery sector. The filing details various financial aspects, including trade receivables, temporary differences, and losses on equity method investments.

Why It Matters

This filing provides updated financial information and disclosures for Captivision Inc. for the fiscal year 2023, which is crucial for investors to assess the company's performance and financial health.

Risk Assessment

Risk Level: medium — The filing is an amendment to a 20-F, indicating potential updates or corrections to previously filed information, which could signal ongoing financial adjustments or complexities.

Key Numbers

• 20231231 — Fiscal Year End (The period for which the 20-F/A report is filed.)
• 20240524 — Filing Date (The date the amendment was submitted to the SEC.)

Key Players & Entities

• Captivision Inc. (company) — Filer of the 20-F/A
• Phygital Immersive Ltd (company) — Former name of Captivision Inc.
• 20231231 (date) — Fiscal year end
• 20240524 (date) — Filing date
• M5 (location) — State of incorporation

FAQ

Key Financial Figures

• $0.0001 — registered Ordinary shares, par value $0.0001 per share CAPT The Nasdaq Stock Mar
• $11.50 — ordinary share at an exercise price of $11.50 per share CAPTW The Nasdaq Stock Ma
• $12.00 — nary Shares is greater than or equal to $12.00 for any twenty (20) Trading Days within
• $14.00 — nary Shares is greater than or equal to $14.00 for any twenty (20) Trading Days within
• $16.00 — nary Shares is greater than or equal to $16.00 for any twenty (20) Trading Days within
• $12.50 — VWAP for Ordinary Share being at least $12.50 for 20 Trading Days within any 30consec

Filing Documents

• capt-20231231.htm (20-F/A) — 7039KB
• capt-ex12_1.htm (EX-12.1) — 24KB
• capt-ex12_2.htm (EX-12.2) — 24KB
• capt-ex13_1.htm (EX-13.1) — 10KB
• capt-ex13_2.htm (EX-13.2) — 9KB
• img162925641_0.jpg (GRAPHIC) — 54KB
• img162925641_1.jpg (GRAPHIC) — 18KB
• img162925641_2.jpg (GRAPHIC) — 18KB
• img162925641_3.jpg (GRAPHIC) — 24KB
• img162925641_4.jpg (GRAPHIC) — 5KB
• 0000950170-24-064670.txt ( ) — 27619KB
• capt-20231231.xsd (EX-101.SCH) — 2340KB
• capt-20231231_htm.xml (XML) — 7282KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 131 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 132 PART II 132 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 132 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 132 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 132 ITEM 16. [RESERVED] 133 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 133 ITEM 16B. CODE OF ETHICS 133 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 133 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 134 ITEM 16E. PURCHASE OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 134 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 134 ITEM 16G. CORPORATE GOVERNANCE 134 ITEM 16H. MINE SAFETY DISCLOSURE 135 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 135 ITEM 16J. INSIDER TRADING POLICIES 135 ITEM 16K. CYBERSECURITY 135 PART III 137 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 137 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 137 ITEM 19. EXHIBITS 137 i Conventions That Apply to This Annual Report on Form 20F In this annual report on Form 20F, unless otherwise designated, the terms "we," "us," "our," "Captivision," "the Company" and "our Company" refer to Captivision Inc., an exempted company incorporated with limited liability in the Cayman Islands, and its consolidated subsidiaries, (ii) "JGGC" refers to Jaguar Global Growth Corporation I, a Cayman Island exempted company, (iii) "Captivision Korea" refer to Captivision Korea Inc. (f/k/a GLAAM Co., Ltd.), a corporation ( chusik hoesa ) organized under the laws of the Republic of Korea, and (iv) " W " and "KRW" refer the South Korean Won. Unless we indicate otherwise, references in this annual report to: " Business Combination " means the Merger, the Share Swap and the other transactions contemplated by the Business Combination Agreement, collectively. " Business Combination Agreement " means the Business Combination Agreement, dated as of March 2, 2023, as amended as of June 16, 2023, July 7, 2023, July 18, 2023 and September 7, 2023 by and among JGGC, Captivision Korea, Jaguar Global Growth Korea Co., Ltd, and the Company. " Captivision ", the " Company " and " we " means Captivision Inc. (formerly known as Phygital Immersive Limited), an exempted company with limited liability under the laws of the Cayman Islands, together with its direct and indirect subsidiaries. " Captivision Korea " means Captivision Korea Inc. (formerly known as GLAAM Co., Ltd.) a corporation ( chusik hoesa ) organized under the laws of the Republic of Korea and a subsidiary of the Company. " Captivision Korea Common Shares " means the common shares, KRW 500 par value per share, of Captivision Korea. " Captivision Korea Exchange Ratio " means 0.800820612130561. " Captivision Korea Founder Earnout Letter " means the letter agreement, dated March 2, 2023, by and among the Captivision Korea Founders, the Company, Ex

IDENTITY OF DI RECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DI RECTORS, SENIOR MANAGEMENT AND ADVISERS Not required.

OFFER STATI STICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATI STICS AND EXPECTED TIMETABLE Not required.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not required. C. Reasons for the Offer and Use of Proceeds Not required. D. Risk Factors Summary of Risk Factors Investing in our securities involves significant risks. You should carefully consider all of the information in this annual report before making an investment in our securities. Below please find a summary of the principal risks we face: We will require substantial additional financing to fund our operations and complete the development and commercialization of the process technologies that produce each of our products or new aspects of our existing process technologies that produce each of our products, and we may not be able to obtain such financing on favorable terms, or at all. Unpaid transaction expenses, the costs of certain fee deferral arrangements and the issuances of additional Ordinary Shares under certain of our contracts and arrangements may result in dilution of holders of Ordinary Shares and have a negative impact on our results of operation, our liquidity and/or the market price of the Ordinary Shares. The fourthgeneration architectural media glass industry is a nascent industry; it may take a long time for Captivision Korea's technology to penetrate its target markets. Captivision Korea's future growth and success is dependent upon the DOOH market and the construction industry's willingness to adopt architectural media glass and specifically its GGlass technology. Failure to maintain the performance, reliability and quality standards required by Captivision Korea's customers could have a materially adverse impact on its financial condition and results of operation. Captivision Korea's business and results have been and, may in the future be, adversely affected by fluctuations in the cost or availability of raw materials, components, purchased finished goods, shipping or services. A global economic downturn could result in reduced demand

View Full Filing

View this 20-F/A filing on SEC EDGAR