Ultimax Digital, which operates a video game development and publishing studio and an NFT marketplace, filed on Friday with the SEC to raise up to $11 million in an initial public offering.
The New York, NY-based company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Ultimax Digital would command a market cap of $83 million.
Ultimax Digital was founded in 2018 to help game developers offer in-game purchases in video games, before shifting to developing and publishing games of their own. In 2021, the company expanded its business into operating an NFT marketplace, and providing infrastructure for video game developers to incorporate NFTs into video games. The company had no revenue in 2021 or the 1H22.
Ultimax Digital plans to list on the Nasdaq under the symbol NFTX. WestPark Capital is the sole bookrunner on the deal.
