Star Citizen Studio Secures Even More Investment From Existing Shareholders
Star Citizen studio Cloud Imperium Games announced an additional $17.25 million investment from existing shareholders, as outlined below.
Cloud Imperium announced that existing investors – the Calder Family Office, Snoot Entertainment, and ITG Investment – have exercised a one-time option to purchase further shares in the company. The share prices reflect a discounted option price for existing shareholders that was pre-negotiated at the time of the initial investment in 2018. There were no changes to the Board composition as a result of this transaction. Chris Roberts continues to maintain full control of the Board and Group.
The same investors had already invested over $46 million in the studio, as reported back in this investment fact sheet from December 2018. This means Cloud Imperium has raised an astounding $338.6 million to date, after factoring in the crowdfunding (currently at $275.417.726).
In related Star Citizen news, Cloud Imperium recently revealed to have reached an agreement with Crytek on the CryEngine lawsuit. However, no details on the deal have been released to date. Meanwhile, the game's development continues to pick up the pace. In a video update posted earlier this month, Cloud Imperium developers discussed some of the work that's being done on the Star Citizen single player campaign, Squadron 42. All the motion capture scenes had to be reshot to account for the female player character model, for instance, while a six-hour review build reportedly only crashed once despite having all of the systems implemented and functional.
The AI is being enhanced, too, on all levels, from combat to social situations. If all goes well, Star Citizen and Squadron 42 are both expected to have a big showcase at this year's CitizenCon, scheduled for Saturday, October 10th at the Los Angeles Convention Center (the usual location of the Electronic Entertainment Expo). Of course, provided that COVID-19 has been fully contained by then.
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