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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

23. SUBSEQUENT EVENTS

 

On October 13, 2025, the Company announced that it had entered into a definitive agreement to make a strategic investment in Mythical Games, Inc. (“Mythical”) as part of Mythical’s Series D financing round, alongside ARK Invest and World Foundation. Mythical is a leading developer in Web3 gaming and digital ownership, known for titles including NFL Rivals, Pudgy Party (in partnership with Pudgy Penguins), and FIFA Rivals. The investment aligns with the Company’s strategic roadmap to allocate up to 1% of its digital asset treasury toward venture-style investments that advance authentication and identity verification technologies within the Worldcoin ecosystem. This investment strengthens the Company’s position as the authentication and trust layer for the post-AGI economy, in coordination with Worldcoin’s Worldchain, a blockchain designed for Proof of Human (PoH) verification and single sign-on. The Company anticipates that its collaboration with Mythical and the World Foundation will accelerate the integration of verified digital identity solutions into gaming ecosystems and AI-driven platforms.

 

On October 31, 2025, the Compensation Committee of the Board of Directors approved an increase of 7,500,000 shares reserved for issuance under the Company’s 2022 Long-Term Incentive Plan, bringing the total authorized shares under the plan to a level below 19.99% of the Company’s outstanding common stock as of that date. The Committee also authorized the filing of a Form S-8 registration statement to register the additional shares and approved grant awards totalling 877,500 shares or restricted stock units to directors, officers, and employees in recognition of their efforts related to the Company.

 

On October 27, 2025, the Company entered into an amended and restated Sales Agreement (the “Cantor-Lafferty ATM Agreement”) with Cantor Fitzgerald & Co. (“Cantor”) and R.F. Lafferty & Co., Inc. (“R.F. Lafferty”), amending the Lafferty ATM Agreement dated September 10, 2025. The amendment adds Cantor as an additional sales agent and authorizes Cantor, acting as principal and/or sales agent, to offer and sell shares of the Company’s common stock having an aggregate offering price of up to $2.7 billion. All other material terms of the Lafferty ATM Agreement remain unchanged.

 

The Company has issued 10,570,644 shares of common stock under the Lafferty ATM and Cantor-Lafferty ATM Agreement from October 1, 2025 through November 13, 2025 for net proceeds of $99,814,470.