Brave Lamb Studio, part of the Movie Games Group, a developer of games in the premium indie segment, has successfully completed a public offering of B shares. As part of the issue, the Company raised more than PLN 1.2 million, which will be used for the development of the Field Hospital project, whose global publisher will be Movie Games. A trailer announcing the game will be published at the end of Q1/early Q2 this year. The Company’s valuation after the issue is PLN 55 million.
The funds raised from the issue will be used primarily for the salaries of team members, hardware, software and ongoing operating costs of the studio responsible for producing the game. 25 percent of Brave Lamb Studio’s shares are held by Movie Games, which has also become the global publisher of Field Hospital. As part of the gameplay, the player will manage a frontline field hospital during World War I. Among other things, the player will be tasked with the responsibility of making difficult moral decisions on which the life and death of individual soldiers will depend, maintaining the defense of the field hospital and building up its structure, while struggling to obtain resources. This will be the first next-gen production in the Studio’s portfolio, which in the future plans to focus on games based on a complex narrative layer in realities not previously used in computer games.
– ‘We would like to thank the investors very much for their trust. Thanks to the funds raised from the issue, we can finance the initial work on Field Hospital, our flagship production. We are currently in the process of developing the game mechanics and the economy system, and we are also working on the graphic layout of the game. Work is also underway on the initial sound design for the production. A very important milestone that we recently accomplished was to determine the shape of the interface, which from our point of view is crucial in this game. And soon we will finish work on the game’s trailer, which should be released at the end of this quarter’ – comments Michal Dziwniel, Brave Lamb Studio’s chief producer.
According to the development schedule the game is expected to be released for PC, PS5 and Xbox Series consoles in Q4 2022. The developers estimate that the game will reach sales of several hundred thousand units in the first 24 months after its release. In addition to work on the game, the Company is also preparing for the process of listing shares on the WSE. The game has already received approval from Microsoft in the underwriting process, and the Company is currently in the process of signing agreements, that will result in developer status for Xbox platforms.
– ‘Following the success of the public offering and the achievement of a valuation of PLN 55 million, we intend to go public on the Warsaw Stock Exchange. We have a very ambitious plan to introduce the Company directly to the WSE Main Market. We are not surprised by the valuation achieved, as the Field Hospital game will belong to the premium indie segment, and we are preparing to start work on other games in this sector. Valuations of Polish public companies in this type of market are in the range of several hundred million zlotys each, so in our opinion similar levels in the long term are also possible for Brave Lamb Studio,’ – comments Maciej Nowak, Board Member of Brave Lamb Studio.
Brave Lamb Studio is a team consisting of 17 top gamedev professionals, previously working for companies such as Techland, CD Projekt and People Can Fly, among others. The main producer of the game is Michal Dziwniel, working in the game industry since 2010 in production and design positions. Members of the studio have had the opportunity to co-create such games as Dying Light 2, Sniper: Ghost Warrior 2, Outriders, and Pure Farming 2018.
About Movie Games S.A. :
Movie Games S.A. is a Polish company founded in 2016 by Mateusz Wczesniak, computer games enthusiast with experience in the financial sector, supported by Aleksy Uchanski, who has been involved in the gaming industry and media for almost three decades, and Maciej Miasik, a Polish gaming legend and developer with 27 years of experience. The company currently employs dozens of people who are working on more than ten productions. Development teams are based in offices in the Mazovian, Greater Poland, West Pomeranian, Lesser Poland and Silesian voivodeships.
The company has been listed on NewConnect since December 2018.