Falcon's Beyond Global Closes $10M Private Placement
Ticker: FBYDW · Form: 8-K · Filed: Mar 6, 2024 · CIK: 1937987
Sentiment: neutral
Topics: financing, private-placement, warrants
Related Tickers: FBYD
TL;DR
FBYD closed a $10M private placement with Redstone Ridge affiliate, getting cash and warrants.
AI Summary
On March 4, 2024, Falcon's Beyond Global, Inc. announced the closing of a previously disclosed private placement of approximately $10.0 million in aggregate gross proceeds. The company issued 1,034,999 shares of its common stock and warrants to purchase an additional 1,034,999 shares of common stock at an exercise price of $11.50 per share. This private placement was part of a larger agreement with an affiliate of Redstone Ridge, LLC.
Why It Matters
This capital infusion provides Falcon's Beyond Global with additional funds, potentially supporting its operational growth and strategic initiatives.
Risk Assessment
Risk Level: medium — The company is raising capital through a private placement, which can indicate a need for funds and potential dilution for existing shareholders.
Key Numbers
- $10.0M — Gross Proceeds (From private placement of common stock and warrants.)
- 1,034,999 — Shares Issued (Common stock issued in the private placement.)
- $11.50 — Warrant Exercise Price (Price per share for warrants issued in the private placement.)
Key Players & Entities
- Falcon's Beyond Global, Inc. (company) — Registrant
- $10.0 million (dollar_amount) — Gross proceeds from private placement
- March 4, 2024 (date) — Date of closing for private placement
- 1,034,999 (number) — Shares of common stock issued
- $11.50 (dollar_amount) — Exercise price of warrants
- Redstone Ridge, LLC (company) — Affiliate involved in private placement
FAQ
What was the total amount of gross proceeds from the private placement?
The total amount of gross proceeds from the private placement was approximately $10.0 million.
When did Falcon's Beyond Global, Inc. close this private placement?
The private placement was closed on March 4, 2024.
How many shares of common stock were issued in the private placement?
1,034,999 shares of common stock were issued.
What is the exercise price of the warrants issued?
The warrants have an exercise price of $11.50 per share.
Who was the other party involved in the private placement?
The private placement involved an affiliate of Redstone Ridge, LLC.
Filing Stats: 487 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-03-06 17:20:10
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share FBYD The Nasdaq Stock Mar
- $11.50 — A common stock, at an exercise price of $11.50 per share FBYDW The Nasdaq Stock Ma
Filing Documents
- ea0201330-8k_falcons.htm (8-K) — 27KB
- 0001213900-24-020503.txt ( ) — 240KB
- fbyd-20240304.xsd (EX-101.SCH) — 4KB
- fbyd-20240304_def.xml (EX-101.DEF) — 26KB
- fbyd-20240304_lab.xml (EX-101.LAB) — 36KB
- fbyd-20240304_pre.xml (EX-101.PRE) — 25KB
- ea0201330-8k_falcons_htm.xml (XML) — 6KB
01. Other Events
Item 8.01. Other Events. The Board of Directors of Falcon's Beyond Global, Inc. (the " Company ") has scheduled its 2024 annual meeting of stockholders (the " Annual Meeting ") for June 11, 2024. As this will be the Company's first annual meeting as a public company, the Company has also set a deadline of March 25, 2024 for the receipt of any stockholder proposals submitted pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, as amended. Any such proposal must meet the requirements set forth in the rules and regulations of the Securities and Exchange Commission. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 6, 2024 FALCON'S BEYOND GLOBAL, INC. By: /s/ Bruce A. Brown Name: Bruce A. Brown Title: Executive Vice President of Legal, General Counsel and Corporate Secretary 2