Roblox Corporation announced that it has received $519.999885 million in funding from Altimeter Capital Management, LP, Dragoneer Investment Group, LLC, Investment Group of Santa Barbara, Warner Music Group Corp. and other investors
January 06, 2021
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Roblox Corporation announced that it has entered into series H preferred stock purchase agreement and will issue 12,222,222 series H preferred stock at a price of $45 per share for gross proceeds of $549,999,990 on January 6, 2021. The shares are convertible, non-cumulative, non-participating and non-redeemable. The shares carry non-cumulative fixed dividend value of $3.6 per share per annum. The shares will be convertible into common shares at a fixed conversion price of $45 per share.
On the same date, Roblox Corporation closed the transaction. The company has issued 11,555,553 series H preferred stock for gross proceeds of $519,999,885 in the transaction. The series H round of funding co-led by new investors Altimeter Capital Management, LP and Dragoneer Investment Group, LLC. The transaction also included participation from new investors Investment Group of Santa Barbara, Warner Music Group Corp. (NasdaqGS:WMG) and several existing investors. The round was raised at a post money valuation of $29,500,000,000. The company has issued securities to 18 investor pursuant to exemption provided under Regulation D.
Roblox Corporation operates a free to use immersive platform for connection and communication (Roblox Platform), where every day, people come to create, play, work, learn, and connect with each other in experiences built by its global community of creators. It operates the Roblox Platform as live services that allow users to play and socialize with others for free. Its platform consists of the Roblox Client, the Roblox Studio, and the Roblox Cloud. Roblox Client is the application that allows users to seamlessly explore 3D immersive experiences. Roblox Studio is the free toolset that allows developers and creators to build, publish, and operate three dimensional (3D) immersive experiences and other content accessed with the Roblox Client. Roblox Cloud includes the services and infrastructure that power its Platform. It offers developers and creators the ability to build engaging, immersive experiences and marketplace items that they can easily share with the Roblox community.
Roblox Corporation announced that it has received $519.999885 million in funding from Altimeter Capital Management, LP, Dragoneer Investment Group, LLC, Investment Group of Santa Barbara, Warner Music Group Corp. and other investors