Issue of shares of the game studio Illusion Ray SA – Opening of the Stock Exchange

Game studio Illusion Ray SA launched a public issue of shares worth PLN 718,000 on June 14. PLN, on the Navigator Crowd platform. The question is intended for the implementation of two purposes. The first is the release of “The Beast Inside” game for old and new generation consoles. The title was created by the company’s president, Łukasz Smaga, in collaboration with the current team of Illusion Ray in 2019, becoming an editorial success and winning numerous industry awards, including The Webby Awards called “Internet Oscar”. The second goal is to produce a new action RPG game Wardogz, which is scheduled to premiere in late 2023. In mid-2023, Illusion Ray plans to debut on the NewConnect marketplace.

The beginnings of the Illusion Ray studio date back to 2009, when Łukasz Smaga focused on creating short films as well as 3D and VR animations, among others. in collaboration with Platige Image. Formally, the Illusion Ray SA studio was established in 2020 as an independent game development studio aiming to continue, in the form of a joint-stock company, the work done by Łukasz. He has been directly linked to the gamedev market since 2016, when in 2019 his first game, “The Beast Inside”, from the thriller and survival horror genres, debuted. At that time, Unreal Engine 4 technology was used for the production, which, combined with the photogrammetry technique, provided high-quality photorealistic graphics. As a result, the studio received awards in the form of Pixel Award and The Webby Awards in the Best Visual Effects category and a nomination in the Best Adventure Game category. Łukasz Smaga, the founder and president of Illusion Ray SA, thus became the first Polish creator to receive the “Internet Oscar”, as the Webby Awards are called.

Today, Illusion Ray SA is an independent development studio specializing in the creation of original horror games and casual action adventure games. The president and main creator of the studio is Łukasz Smaga. Within the development team, he is supported, among others, by Dominik Sójka, technical director responsible for the technical aspects of the games, game design and graphics, and Kamil Pazderski, level designer determining the game universe and the main pillars. The studio’s business partner is Bellwether Rocks, which specializes in digital entertainment market projects. Behind the venture capital fund are Marcin Kobylecki (producer of “City of Ruins” for the Warsaw Uprising Museum, or Oscar-nominated “Katedra” Tomasz Bagiński) and Kamil Cisło, a stockbroker chartered who has advised companies in their career seeking capital and entering the Warsaw Stock Exchange and NewConnect. Jacek Dukaj, a fantasy writer, is a member of the fund’s supervisory board.

– Illusion Ray is currently at his best. We have started a cooperation with Bellwether Rocks, which opens the possibility of a wider distribution of our tube and to fully focus on the process of developing new projects based on our own IP, which will allow us to build all the universe around the game. I put a lot of hope in our new projects. I believe that with our team and the knowledge and experience of Bellwether Rocks, we will build a European-class development studio, creating outstanding AA+ games that will appeal to global publishers. – said Lukasz SmagaPresident Illusion Ray SA.

Crowdfunding campaign and issuance goals

From June 14, new shareholders will be able to join Illusion Ray SA to support the studio in the development and production of new gaming projects. On this day, Illusion Ray SA launched the public offering of Series E shares with a total value of PLN 718,000. PLN, with the valuation of the company at the level of 13 million PLN. The issue price is PLN 1.58 per share and the minimum subscription is 160 shares. The offer is made on the platform with Navigator Crowd, and the detailed conditions are presented on the site: https://emisja.illusionray.com/home.

Funds obtained through the show will be used to fund the transfer of the PC version of The Beast Inside to consoles and the continued production work of Wardogz.

– The first production of our studio will be the release of the game “The Beast Inside” on consoles: Ps4, Ps5, Xbox one and Nintendo Switch, which was created by me in 2019 and turned out to be a big editorial success, selling 600,000 copies. To date, the game receives very good reviews, because of all 4.7 thousand. reviews on Steam up to 84% is positive. At the end of 2023, we plan to launch our next title, an open-world action-adventure game called “Wardogz” – said Lukasz Smaga.

Wardogz is an action-adventure RPG game. The protagonist is a member of the eponymous organization fighting for peace, who will have to face the world of machines and mutants in the realities of the damaged and oil-filled land of Hellstain. It’s a unique blend of magic and technique, as well as one of the very few titles released to date that focuses on the specific framework of dieselpunk. Development of the game began in 2020. Currently, the company has 40-minute gameplay, prototypes of all mechanics and a closed script. Currently, production work related to the preparation of the beta version is underway. The game’s debut is scheduled for the fourth quarter of 2023.

– In the next projects of our studio, we plan to fully focus on genres of games closer to us, based on an insightful and ambiguous plot with elements of action and adventure, which, in our opinion, have the greatest potential. These projects are much more ambitious than The Beast Inside, requiring a broader perspective and a greater commitment to offer the player an exceptional entertainment based on a rich world and optimal mechanics. The Beast Inside has been a valuable lesson in game making, which is already paying off based on our latest project Wardogz – said Lukasz Smaga.

In the next steps, Illusion Ray plans to release more survival horror games, which are The Beast Inside 2 and Lightmare.

Debut on NewConnect

Mid-2023, Illusion Ray SA plans to debut on the NewConnect market. At the same time, guaranteeing the new shareholders certainty of remaining in the investment of key shareholders and their confidence in the whole project, Łukasz Smaga and Bellwether Rocks entered into blocking agreements for 95% of all shares held, for the period from the conclusion of the non-transferability agreement to the expiry of a period of 12 months from the date of entry into force.

In the opinion of the Management Board, the IPO is a step that will positively influence the perception of Illusion Ray by potential partners and allow it to compete with large entities.

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