Intellivision has raised at least $43 million for the production of its new Amico console, our findings indicate.
Yesterday, Intellivision opened a new funding round on Start Engine, an investment startup site. Intellivision is currently selling up to $5 million in SAFEs (simple agreement for future equity) directly to consumers for $0.72 per share with a $500 minimum investment. Investors aren't actually buying a product--they're buying actual stake in the company itself. The company plans to sell 13,888 securities and has raised $30,512 at the time of writing.
The Start Engine campaign's Form C filing also confirms Intellivision's financials. The company currently has $8.52 million in net assets, $7.19 million in long-term debt, $1.5 million in short-term debt, and has reported a loss of $3.2 million.
This is actually the third investment campaign Intellivision has launched.
Others include a campaign on Fig that raised $7.1 million. The Fig page mentions that 13,046 pre-orders have been claimed, but that's only about $3.2 million assuming a $249 USD retail cost. The remaining $3.9 million was equity investments into the Amico itself--Fig offers consumers direct stake purchase opportunities.
Intellivision has also raised $11.5 million from Republic another equity investment site. This campaign was concluded in April 2021 with a $1,000 minimum investment for FGS Amico shares, or preferred shares issued by Fig Publishing.
Here's an excerpt from the SEC filing related to the Fig shares:
- Fig Gaming Shares - Amico: We are offering a maximum of 13,763 Fig Gaming Shares - Amico ("FGS - Amico") at $1,000 per share. We have already offered shares of FGS - Amico in a separate, completed offering under Regulation D, Rule 506(c), in which we sold 1,237 such shares for $1,000 per share. FGS - Amico are designed to pay dividends based on the economic performance of the Amico Game Console, developed by Intellivision. For more information on FGS - Amico, please read Schedule Amico, as well as the main part of this offering circular.
- Fig Gaming Shares - Marauder: We are offering a maximum of 1,000 Fig Gaming Shares - Marauder ("FGS - Marauder") at $500 per share. FGS - Marauder are designed to pay dividends based on the economic performance of the Marauder video game, developed by Small Impact Games. For more information on FGS - Marauder, please read Schedule Marauder, as well as the main part of this offering circular.
Intellivision also says it has received over $25 million from pre-order sales. A quick bit of math shows Intellivision has raised roughly $39.7 million in total funding for the Amico's production and shipment.
For reference, that's over 10x the Atari VCS' $3 million Indiegogo campaign.
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