Boku Inc Amazon commercial agreement and Warrant issue (8972Z)
September 20 2022 - 01:00AM
UK Regulatory
TIDMBOKU
RNS Number : 8972Z
Boku Inc
20 September 2022
20 September 2022
Boku, Inc.
("Boku" or the "Company")
New multi-year Amazon commercial agreement and Warrant Issue
Boku (AIM: BOKU), a leading global provider of mobile payment
solutions, through a subsidiary, has entered into a new multi-year
commercial agreement ("Agreement") with a subsidiary of Amazon.com,
Inc. ("Amazon") for Boku Payments to supply its digital wallet and
other local payment methods to Amazon.
New agreement with Amazon
The Agreement, which has an initial three year term from launch
with one year renewal periods, covers the processing of payments
for Amazon Prime Video subscriptions through Amazon's
primevideo.com site for customers located in certain countries in
South East Asia and Africa. Boku's revenue from Amazon will be
based on a percentage of Prime Video transaction value that it
processes.
Warrants
Concurrently, Boku has issued to Amazon warrants to subscribe
for up to 11,215,142 shares of Boku's common stock ("Common Stock")
representing up to 3.75% of Boku's existing issued share capital,
of which 747,676 shares, or 0.25%, vested on the issuance of the
warrants, and the balance vests based on Amazon achieving certain
revenue targets over the next seven years. The warrant costs will
be matched to and offset against revenues generated by Boku from
Amazon.
The warrants are exercisable at 81.20p, which was the 30-trading
day volume-weighted average price of Boku's Common Stock
immediately prior to issuing the warrants. The warrants will be
exercisable for ten years from the issue date. The warrants may be
exercised in whole or in part by Amazon.
Jon Prideaux, Chief Executive Officer, Boku, commented:
"We are delighted to have entered into this new agreement with
Amazon which demonstrates that one of the world's most well-known
brands has chosen Boku to process certain digital wallet payments,
reinforcing Boku's strategic move into these areas."
This Announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 which is
part of UK law by virtue of the European Union (withdrawal) Act
2018. The person responsible for arranging the release of this
Announcement on behalf of the Company is Keith Butcher, Chief
Financial Officer.
Enquiries:
Boku, Inc.
Jon Prideaux, Chief Executive Officer +44 (0)20 3934 6630
Keith Butcher, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker) +44 (0)20 7418
8900
Paul Gillam / Tom Ballard / James Smith
IFC Advisory Limited (Financial PR & IR) +44 (0)20 3934
6630
Tim Metcalfe / Graham Herring / Florence Chandler
Notes to Editors
Boku Inc. (AIM: BOKU) is a leading global provider of mobile
payment solutions. Its Mobile First Payments Network 'M1ST'
features 330+ mobile payment methods, including mobile wallets,
direct carrier billing, and real-time payments schemes, reaching
over 7 billion mobile payment accounts in 91 countries - all
through a single integration.
Customers that trust Boku to simplify sign-up, acquire new
paying users and prevent fraud include global leaders such as
Amazon, Apple, Meta Platforms, Google, Microsoft, Netflix, Sony,
Spotify and Tencent.
Boku Inc. was incorporated in 2008 and is headquartered in
London, UK, with offices in the US, India, Brazil, China, Estonia,
France, Germany, Indonesia, Japan, Singapore, Spain, Taiwan and
Vietnam.
To learn more about Boku Inc., please visit:
https://www.boku.com
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END
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