Fragbite Group has signed an agreement with Swedish blockchain expert and venture builder company 4+ Ventures AB and Switzerland-based Swiss Peak Ventures GmbH. The agreement entails the sale of equity in Fragbite Group subsidiaries Lucky Kat and Wagmi respectively, at a combined total valuation of 5 MEUR. The sale is executed in two main steps:

1) Upon signature, 4+ Ventures AB acquires 3% of Lucky Kat and Swiss Peak Ventures GmbH acquires 3% of Wagmi for a total purchase consideration of 150,000 EUR.

2) Between the date of signature and 1 August 2026, 4+ Ventures AB and Swiss Peak Ventures GmbH will provide Fragbite Group with personnel and services. These services pertain to the Company’s upcoming gaming protocol launch, node sale and $KOBAN public launch. Each month services as per mutually agreed specification will constitute payment for equity in Lucky Kat and Wagmi respectively, up to a maximum of another 21% of equity in each subsidiary. During the contractual term, 4+ Ventures AB and Swiss Peak Ventures GmbH have the right to pay for all or some of the shares in cash. If step 2 is executed fully, it will thus lead to a combined final 24% equity ownership by 4+ Ventures AB in Lucky Kat and 24% ownership by Swiss Peak Ventures GmbH in Wagmi.

For more information, see the press release from 13 December 2024 communicating the letter of intent: LINK