MIAMI, June 06, 2025 (GLOBE NEWSWIRE) -- Captivision Inc. (“Captivision” or the “Company”) (NASDAQ: CAPT), a pioneering manufacturer and global LED solution provider, announced that on June 4, 2025, it received a staff determination letter (the “Determination Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it had not regained compliance with the Market Value of Listed Securities (“MVLS”) Requirement by June 2, 2025. The Determination L ...

Core Viewpoint - Captivision Inc. is currently facing compliance issues with Nasdaq due to the failure to file its Annual Report on Form 20-F for the year ended December 31, 2024, which may affect its listing status if not resolved [1][2][3] Group 1: Compliance Issues - The Company received a notification from Nasdaq stating it is not in compliance with Listing Rule 5250(c)(1) due to the unfiled Form 20-F [1] - Captivision has 60 calendar days, until July 21, 2025, to submit a plan to regain compliance, with a potential extension of up to 180 days if accepted [2] - The Company is actively working to finalize and file the Form 20-F within the prescribed timeline but cannot guarantee compliance within the cure period [3] Group 2: Company Overview - Captivision is a manufacturer of media glass that integrates IT building materials with architectural glass, applicable in various sectors including entertainment and marketing [4] - The Company's media glass solutions have been implemented in numerous global locations such as sports stadiums, casinos, and airports [5]

Core Insights - Captivision Inc. has launched a new corporate branding and website to reflect its innovative spirit and technological advancements [1][3] - The new website showcases the company's diverse portfolio and extensive range of services, including LED solutions and collaborations with top-tier clients [2][3] Company Overview - Captivision is a manufacturer of media glass that integrates IT building materials with architectural glass, applicable in various sectors such as entertainment, information media, and marketing [3] - The company's media glass can transform glass façades into transparent media screens with real-time streaming capabilities [3] Market Presence - Captivision's solutions have been implemented in numerous global locations, including sports stadiums, entertainment venues, casinos, hotels, convention centers, office and retail properties, and airports [4]

Core Insights - Captivision Inc. has appointed Richard "Ric" Clark to its Board of Directors, effective immediately, where he will serve as Chair of the Compensation Committee and join the Nominating and Corporate Governance Committee [1][3] Group 1: Leadership and Experience - Ric Clark brings nearly four decades of experience in real estate, M&A, and capital markets, having founded Burnside Investments and co-founded WatermanClark [2] - Clark previously held leadership roles at Brookfield Corp., where he grew the real estate group's assets under management from $5 billion to over $200 billion [2] Group 2: Company Overview - Captivision is a manufacturer of media glass that integrates IT building materials with architectural glass, applicable in various sectors including entertainment and marketing [4] - The company's media glass solutions have been implemented in numerous global locations, including sports stadiums, casinos, and airports [5]

Core Insights - Captivision Inc. has appointed John Jureller to its Board of Directors, effective immediately, and he will also serve as Chair of the Audit Committee, bringing significant financial leadership and corporate governance expertise to the company [1][3] Group 1: Leadership and Expertise - John Jureller has extensive experience across various sectors including consumer products, communications, private equity, real estate, and healthcare, having held key financial leadership roles at multinational companies [2] - His previous affiliations include major corporations such as PepsiCo, Frontier Communications, General Atlantic, and Bankers Trust (now part of Deutsche Bank) [2] - Jureller holds an M.B.A. in Finance from Cornell University's Johnson Graduate School of Management and a B.S. with Distinction from Cornell University [3] Group 2: Company Overview - Captivision is a pioneering manufacturer of media glass, integrating IT building materials with architectural glass, applicable in entertainment media, information media, cultural content, and marketing [4] - The company is rapidly becoming a solution provider across the LED product spectrum, with its media glass implemented in various global locations including sports stadiums, entertainment venues, casinos, hotels, convention centers, office and retail properties, and airports [5]

Core Viewpoint - Captivision Inc. has successfully completed the installation of its transparent architectural media glass at the COEX Magok Le-West convention center in Seoul, generating approximately $8 million in revenue for the company [2]. Company Overview - Captivision is a pioneer in manufacturing media glass, integrating IT building materials with architectural glass, applicable in various sectors including entertainment, information media, and marketing [4]. - The company is rapidly becoming a solution provider across the LED product spectrum, with its media glass and solutions implemented in numerous global locations such as sports stadiums, entertainment venues, and airports [5]. Project Details - The installation at COEX Magok Le-West covers over 16,000 square feet and features next-generation digital media displays that enhance multiple facades [2]. - The convention center is positioned as a landmark property in a prime location, surrounded by various residential, hospitality, office, and retail properties, which increases the value of Captivision's technology [2]. Strategic Partnerships - The collaboration with Lotte Group signifies Captivision's commitment to partnering with world-class entities, aiming to build on the success of this project [3].

Core Viewpoint - Captivision Inc. reported a strong financial performance for the first half of 2024, with significant revenue growth and improved gross margins, while also restructuring its operations and strengthening its balance sheet through various financing activities [2][4][8]. Financial Performance - Revenue for the first half of 2024 increased by 22% to $15.3 million compared to $12.6 million in the same period of 2023 [2][4]. - Gross margin improved to 56% in the first half of 2024, up from 50% in the same period of 2023, primarily due to the completion of significant projects [2][6]. - Cost of sales rose by 7% to $6.8 million, driven by higher product sales and completed installations [5]. - Selling and administrative expenses surged by 223% to $16.1 million, largely due to increased legal, accounting, and compliance costs associated with the company's transition to a public entity [7]. - The net loss for the first half of 2024 was $9.3 million, compared to a net profit of $0.5 million in the same period of 2023, primarily due to increased selling and administrative expenses [8]. Financing Activities - Captivision raised approximately $8.3 million through equity and debt financings, including $4.1 million from three equity financings at an average price of $3.68 per share [2]. - The company converted approximately $4.2 million of outstanding debt into equity at a price of $3.00 per share [2]. - Additional financing included approximately $2.2 million in debt financing and $2.0 million through an equity line of credit [2]. Operational Developments - The company streamlined its European and Middle Eastern sales functions by disposing of its European sales affiliate and partially owned subsidiary, G-SMATT Europe, while converting outstanding debt and third-party equity holders to Captivision equity [2]. - Captivision is focusing on partnerships with leading companies in entertainment, hospitality, and gaming, with notable collaborations including the Mohegan INSPIRE Entertainment Resort and Activision's Call of Duty: Mobile [3]. Liquidity Position - As of June 30, 2024, Captivision had cash and cash equivalents of $0.7 million and net trade receivables of $9.4 million, indicating a need for careful liquidity management [9]. Company Overview - Captivision is a manufacturer of architectural media glass and LED solutions, with applications across various sectors including entertainment, marketing, and cultural content [10]. - The company's media glass solutions have been implemented in numerous global locations, including sports stadiums, casinos, and hotels [11].

Core Insights - Captivision Inc. has partnered with Mohegan to install a dynamic media glass façade at the Mohegan INSPIRE Entertainment Resort in South Korea, marking a significant collaboration in the hospitality and entertainment sector [1][3][4] - The transparent media glass façade enhances the architectural design of the resort, providing advanced display capabilities that enrich the guest experience and create a captivating visual environment [2][4][5] Company Overview - Captivision is a pioneering manufacturer of architectural media glass, integrating IT building materials with architectural glass for various applications, including entertainment and marketing [6] - The company has implemented its media glass solutions in numerous global locations, including sports stadiums, casinos, hotels, and airports, establishing itself as a solution provider across the LED product spectrum [7] Industry Impact - The installation at Mohegan INSPIRE represents a milestone in the convergence of art, architecture, and technology within the hospitality industry, setting a new standard for visual experiences in urban landscapes [5] - The collaboration aims to redefine digital engagement in hospitality and entertainment environments, showcasing the potential of advanced display technology in enhancing guest interactions [4][5]

Company Overview - DDC Enterprise, Ltd. (NYSEAM: DDC), known as DayDayCook, is a leading content-driven food consumer brand focused on sharing Asian cooking culture globally [5][9] - The company offers a range of accessible and healthy ready-to-eat, ready-to-cook, and ready-to-heat products, catering to a global palate [9] - DayDayCook has evolved from a culinary content authority to a multi-brand powerhouse, with a portfolio that includes brands like Nona Lim, Yai's Thai, Omsom, MengWei, and Yujia Weng [9] Leadership Appointment - Ms. Betty Liu has been appointed as a member of the Advisory Board of DayDayCook, bringing extensive experience in content, direct-to-consumer brands, and business leadership [5][6] - Liu's background includes serving as the Executive Vice Chairman of the New York Stock Exchange and founding the Special Purpose Acquisition Company, D and Z Media Acquisition Corp. [6] - Liu's expertise will guide DayDayCook's strategic initiatives and growth, particularly in the North American market [5][9] Market Position - Asian cuisine is identified as one of the fastest-growing food categories in North America, especially popular among Gen-Z and millennials [9] - DayDayCook aims to capitalize on this trend by expanding its brand presence and product offerings in North America and beyond [9]

Corporate Governance - The board of directors currently consists of seven members, with staggered terms expiring in 2024, 2025, and 2026[1182][1198]. - The company intends to rely on Cayman Islands corporate governance practices instead of Nasdaq rules, particularly regarding proxy solicitation[1183]. - The board of directors has determined that five out of seven directors qualify as independent under Nasdaq standards[1202]. - The board of directors has determined that both Michael Berman and Craig Hatkoff are audit committee financial experts as defined by SEC rules[1236]. - The company has established procedures for the receipt and treatment of complaints regarding accounting and auditing matters[1231]. - The company has a governance structure in place to oversee the performance and compensation of its Principal Executive Officer[1230]. Compensation Policies - The company adopted an Executive Compensation Recovery Policy on December 21, 2023, to recover incentive-based compensation in case of financial restatements[1195]. - The company has established a Clawback Policy in compliance with new Nasdaq listing standards to recover erroneously awarded compensation[1195]. - The company intends to follow home country practices regarding equity compensation arrangements as permitted by Cayman Islands law[1233]. - The company is authorized to issue securities without shareholder approval in accordance with its articles of association[1233]. Financial Obligations - As of December 31, 2023, Captivision Korea had an outstanding credit agreement of $96,382, equivalent to W88,195,396, including accrued interest[1217]. - G-SMATT Europe had an aggregate outstanding loan of $1,273,324, equivalent to £1,004,000, as of December 31, 2023, which is overdue[1220]. - The company has entered into multiple loan agreements with G-SMATT Europe, with an aggregate outstanding amount of $220,695.22 as of December 31, 2023[1219]. Risk Management - The company is not subject to selective disclosure rules under Regulation Fair Disclosure as a foreign private issuer[1201]. - The company has a significant international presence, which exposes it to currency exchange rate risks that could adversely impact revenue, expenses, margins, and profit[834]. - Management performs ongoing credit evaluations of customers' financial conditions, maintaining an allowance for credit losses based on expected collectibility of trade receivables[836]. - Inflationary conditions throughout 2023 have materially impacted the global economy, particularly affecting the construction industry where the company's main clients are located[836]. - The company did not use any derivative financial instruments to hedge certain risk exposures, focusing instead on minimizing potential adverse effects on financial performance[833]. - The maximum credit risk exposure is represented by all financial assets recognized in the financial statements, primarily related to trade and other receivables[836]. Business Agreements - The Captivision Korea Support Agreement was executed to facilitate the Business Combination Agreement, with former shareholders agreeing to vote in favor of the transaction[1214].