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.
About the author: With over two decades of experience in gaming journalism, Alessio Palumbo has led the gaming vertical at Wccftech since August 2015. He started working at a young age for Italian websites like Everyeye.it, Gamestar.it, Nextgame.it, and Multiplayer.it before kickstarting the indie English-language publication Worlds Factory as its founder and Editor in Chief. In the last decade, he has coordinated the overall output of Wccftech's gaming section, managed PR relations, assigned reviews, produced daily news coverage, edited gaming content as needed, and delivered game reviews. Arguably, his trademark content is the long series of exclusive developer interviews that have been cited by Wikipedia and by the biggest news media and gaming publications. His passion for technology also makes him knowledgeable when it comes to gaming hardware and tech. His favorite genres include RPGs, MMORPGs, and action/adventure games.
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