Pulse Evolution Group, a developer of hyper-realistic digital humans for entertainment, mixed reality and artificial intelligence, has launched its Asia equity capital campaign with a USD1 million lead investment from Tsang’s Group of Hong Kong.
Tsang’s Group and its investors have acquired 88,636 shares of common shares of Pulse Evolution Group at a purchase price of USD11.28 per share. The Company has also granted Tsang’s Group and its investors warrants to acquire an additional 200,000 common shares, subject to exercise prices of between USD11.00 and USD13.50 per share, or USD11.31 on a weighted average basis, payable in cash at any time prior to 31 March 2020.
“We are delighted to have the support of Patrick Tsang and the team at Tsang’s Group as we look to accelerate our business development and capital efforts in Asia,” says John Textor, CEO of Pulse Evolution Group, “Consumers in Asia have been among the first to embrace the emerging business of digital humans, and it is certainly helpful to have the strategic relationships of Tsang’s Group in line to support our expansion.”
Tsang’s Group Chairman, Patrick Tsang, says: “We are extremely pleased to have made a strategic investment into Pulse Evolution Group. We have been researching the Pulse Group and discussing opportunities with John, the board and shareholders for some time now. As a Hong Kong family office with global investments, and entrepreneurial know-how, we expect to bring tremendous value to the Pulse Group business and help to maximise shareholder value in the capital markets. Our goal is to bring the technology to Asia, utilise our China, Asia and global relationships, and turn Pulse into a household name in Asia, with true global impact.”
