Liquid Media acquires 65 retro gaming titles for $1M in all-stock transaction
Liquid Media announced a title acquisition from Toronto-based Throwback Entertainment, which develops, creates and publishes interactive gaming titles. Under the agreement, Liquid acquired the rights and interest in 65 video game titles, including All Star Baseball, NFL Quarterback Club, NHL Breakaway, College Slam, Dirt Trax FX and Kwirk. Nintendo's NES Classic was June's highest selling hardware in the US, outselling PS4 and XBOX one even though it was only available on shelves for a few days. The title acquisition gives Liquid the opportunity for market penetration with proven titles. In addition to improving graphics and creating more immersive experiences that build off their predecessors, the company expects to remaster the beloved titles for today's gaming platforms. The deal is valued at approximately $1M in an all-stock transaction of 670,000 restricted shares issued to Throwback at $1.49, representing a 60% premium to Liquid's quoted closing price at closing on September 24.