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Press release

Fragbite Group finalises agreement for equity investment in Lucky Kat and Wagmi

Fragbite Group

Fragbite Group AB (publ) (“Fragbite Group” or “the Company”) has today signed an agreement with venture builder companies 4+ Ventures AB and Swiss Peak Ventures GmbH for an equity investment in one of the Company’s three business areas – web3. As per the previously communicated letter of intent, this investment entails a maximum 24% equity share in subsidiaries Lucky Kat B.V. (“Lucky Kat”) and WAGMI Ltd. (“Wagmi”) respectively at a combined total valuation of 5 MEUR.

Fragbite Group has signed an agreement with Swedish blockchain expert and venture builder company 4+ Ventures AB and Switzerland-based Swiss Peak Ventures GmbH. The agreement entails the sale of equity in Fragbite Group subsidiaries Lucky Kat and Wagmi respectively, at a combined total valuation of 5 MEUR. The sale is executed in two main steps:

1) Upon signature, 4+ Ventures AB acquires 3% of Lucky Kat and Swiss Peak Ventures GmbH acquires 3% of Wagmi for a total purchase consideration of 150,000 EUR.

2) Between the date of signature and 1 August 2026, 4+ Ventures AB and Swiss Peak Ventures GmbH will provide Fragbite Group with personnel and services. These services pertain to the Company’s upcoming gaming protocol launch, node sale and $KOBAN public launch. Each month services as per mutually agreed specification will constitute payment for equity in Lucky Kat and Wagmi respectively, up to a maximum of another 21% of equity in each subsidiary. During the contractual term, 4+ Ventures AB and Swiss Peak Ventures GmbH have the right to pay for all or some of the shares in cash. If step 2 is executed fully, it will thus lead to a combined final 24% equity ownership by 4+ Ventures AB in Lucky Kat and 24% ownership by Swiss Peak Ventures GmbH in Wagmi.

For more information, see the press release from 13 December 2024 communicating the letter of intent: LINK

For questions, please contact:


Erika Mattsson, Chief Communications Officer
em@fragbitegroup.com
Phone: +46 8 520 277 82

Redeye AB is the Company’s Certified Adviser.

About us


Fragbite Group (publ) is a Swedish corporate group with a portfolio of established subsidiaries that develop, adapt and publish games and esports content within GAMING, ESPORTS and WEB3. Our products are developed for both traditional platforms – PC, mobile and console – and modern platforms built on blockchain technology. The Group is headquartered in Stockholm and listed on Nasdaq First North Growth Market.

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Fragbite Group finalises agreement for equity investment in Lucky Kat and Wagmi

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