Krafton, Inc. acquired a 10% equity stake in PCF Group S.A. through a new issuance of Series F shares at a fixed price of 40.20 PLN per share.
See it on page 1Krafton secured a right of first negotiation and a right of first refusal for the publishing rights to PCF Group’s upcoming titles, 'Project Victoria' and 'Project Bifrost,' should the developer choose not to self-publish.
See it on page 2The investment agreement includes a 10-year term and establishes a lock-up period for both parties that remains in effect until March 28, 2024.
See it on page 2The deal grants Krafton standard investor protections, including anti-dilution, pre-emptive, and tag-along rights provided by PCF Group CEO Sebastian Wojciechowski.
See it on page 2The transaction was executed under exemptions from prospectus requirements and is not intended as a public offering in jurisdictions including the United States, Japan, or Canada.
See it on page 3This strategic partnership aligns PCF Group’s future intellectual property development with Krafton’s global distribution capabilities.
See it on page 1This regulatory announcement, issued on March 28, 2023, details a significant investment agreement between the Polish game developer PCF Group S.A. (People Can Fly) and the South Korean publisher Krafton, Inc. The primary purpose of the agreement is the acquisition of a 10% equity stake in PCF Group by Krafton through a new issuance of Series F shares.
Under the terms of the investment, Krafton committed to purchasing a specific number of shares to reach a 10% threshold of the company’s share capital and total voting rights. The agreed-upon issue price is set at 40.20 PLN per share, regardless of the final pricing or participation levels of other investors in the broader offering. The agreement also establishes strategic cooperation rights; specifically, if PCF Group decides to release its upcoming projects, "Project Victoria" or "Project Bifrost," through a model other than self-publishing, Krafton is granted the right of first negotiation and the right of first refusal for these titles.
The scope of the agreement includes standard protective provisions for the investor, such as anti-dilution rights, pre-emptive rights, and tag-along rights granted by the company’s CEO and majority shareholder, Sebastian Wojciechowski. Both parties have agreed to a lock-up period on their respective shareholdings lasting until March 28, 2024. The investment agreement is set for a fixed term of 10 years and is governed by Polish law.
This transaction represents a major capital injection and strategic alignment within the global gaming industry, specifically targeting the development and distribution of PCF Group’s future intellectual properties. The document emphasizes that the share issuance is conducted under exemptions from prospectus requirements and is not an offer to the general public in jurisdictions such as the United States, Japan, or Canada.
