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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 9, 2024
Newbury Street Acquisition Corporation
(Exact Name of Registrant as Specified in Charter)
Delaware |
|
001-40251 |
|
85-3985188 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
121 High Street, Floor 3
Boston, MA |
|
02110 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
(617) 893-3057
(Registrant’s telephone number, including
area code)
Not Applicable
(Former Name or Former Address, if Changed Since
Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
| ☒ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange
on which registered |
Units, each consisting of one share of Common Stock and one-half of one redeemable warrant |
|
NBSTU |
|
The Nasdaq Stock Market LLC |
Common Stock, par value $0.0001 per share |
|
NBST |
|
The Nasdaq Stock Market LLC |
Warrants, each exercisable for one share of Common Stock for $11.50 |
|
NBSTW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Item 7.01. Regulation FD Disclosure.
As previously disclosed, on December 12, 2022,
Newbury Street Acquisition Corporation, a Delaware Corporation (the “Purchaser”), entered into an Agreement and Plan of Merger
(the “Merger Agreement”) by and among (i) the Purchaser, (ii) Infinite Reality Holdings, Inc., a Delaware corporation and
a direct wholly-owned subsidiary of the Purchaser (“Pubco”), (iii) Infinity Purchaser Merger Sub Inc., a Delaware corporation
and a direct wholly-owned subsidiary of Pubco (“Purchaser Merger Sub”), (iv) Infinity NBIR Company Merger Sub Inc., a Delaware
corporation and a direct wholly-owned subsidiary of Pubco (“Company Merger Sub” and, together with Purchaser Merger Sub, the
“Merger Subs,” and the Merger Subs collectively with the Purchaser and Pubco, the “Purchaser Parties”), and (v)
Infinite Reality, Inc., a Delaware corporation (the “Target”).
A copy of a press release
issued by the Purchaser, dated July 9, 2024, announcing that the Target announced (i) a $350 million minority investment from a private
multi-family office focused on global technology, media, and real estate, elevating the Target’s valuation to $5.1 billion (the
"Investment") and (ii) the $450 million acquisition of Landvault, a tech company specializing in immersive technology and digital
twins for Fortune 500 companies and government organizations ("Landvault Acquisition"), is attached hereto as Exhibit 99.1 and
incorporated by reference.
A copy of a press release
issued by the Target, dated July 9, 2024, announcing (i) the Investment and (ii) the Landvault Acquisition, is attached hereto as Exhibit
99.2 and incorporated by reference.
The information in this
Item 7.01, including Exhibit 99.1 and Exhibit 99.2, is being furnished and will not be deemed to be filed for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section,
nor will it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities
Act”) or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Important Information and Where to Find
It
In connection with the
proposed business combination, the Purchaser and Pubco, as applicable, plan to file relevant
materials with the U.S. Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4, which
will include a preliminary proxy statement/prospectus and other documents relating to the proposed business combination. After the registration
statement is declared effective by the SEC, the Purchaser will mail the definitive proxy statement/final prospectus to holders of shares
of Purchaser common stock of a record date to be established in connection with the Purchaser’s solicitation of proxies for vote
by Purchaser shareholders with respect to the proposed business combination and other matters as described in the proxy statement/prospectus.
Purchaser shareholders and other interested persons are urged to read the preliminary proxy statement/prospectus and the amendments thereto,
the definitive proxy statement/final prospectus, and documents incorporated by reference therein, as well as other documents filed with
the SEC in connection with the proposed business combination as these materials will contain important information about the proposed
business combination. Shareholders will be able to obtain copies of the preliminary and definitive proxy statement/prospectus and other
documents containing important information about the Purchaser, the Target and the proposed business combination filed with the SEC once
such documents are available on the website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
The Purchaser and the
Target and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies
from the stockholders of the Purchaser in connection with the proposed transactions under the rules of the SEC. Information about the
directors and executive officers of the Purchaser and their ownership of shares of the Purchaser’s common stock is set forth in
its Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on June 5, 2024, and in subsequent documents
filed with the SEC, including the joint proxy statement/prospectus to be filed with the SEC. Additional information regarding the persons
who may be deemed participants in the proxy solicitations and a description of their direct and indirect interests in the proposed transactions,
by security holdings or otherwise, will also be included in the joint prospectus/proxy statement and other relevant materials to be filed
with the SEC when they become available.
No Offer or Solicitation
This communication is
for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities
in connection with the proposed business combination shall be made except by means of a prospectus meeting the requirements of Section
10 of the Securities Act.
Forward Looking Statements
This communication contains
“forward-looking statements,” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act.
Forward-looking statements may generally be identified by terminology such as “will,” “shall,” “may,”
“should,” “expects,” “plans,” “anticipates,” “could,” “intends,”
“target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,”
“potential” or “continue” or the negative of these terms or other similar words or expressions that predict or
indicate future events or trends that are not statements of historical matters. These statements are only predictions. The Purchaser and
the Target have based these forward-looking statements largely on their then-current expectations and projections about future events
and financial trends as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks
and uncertainties, many of which involve factors or circumstances that are beyond each of the Purchaser’s and the Target’s
control. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors,
including but not limited to: (i) risks associated with the Purchaser’s ability to obtain the shareholder approval required to consummate
the proposed transactions and the timing of the closing of the proposed transaction, including the risks that a condition to closing would
not be satisfied within the expected timeframe or at all or that the closing of the proposed transactions will not occur; (ii) the outcome
of any legal proceedings that may be instituted against the parties and others related to the proposed transactions; and (iii) the occurrence
of any event, change or other circumstance or condition that could give rise to the termination of the proposed transactions. We refer
you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”
sections of the Purchaser’s Annual Report on Form 10-K for the year ended December 31, 2023, and other filings made with the SEC
and that are available on the SEC’s website at www.sec.gov. All of the forward-looking statements made in this Current
Report on Form 8-K are expressly qualified by the cautionary statements contained or referred to herein. Accordingly, you should not rely
upon forward-looking statements as predictions of future events. Neither the Purchaser nor the Target can assure you that the events and
circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those
projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the
date on which the statements are made. Except as required by applicable law or regulation, the Purchaser and the Target undertake no obligation
to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect
the occurrence of an unanticipated event.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 9, 2024
|
Newbury Street Acquisition Corporation |
|
|
|
|
By: |
/s/ Thomas Bushey |
|
|
Thomas Bushey |
|
|
Chief Executive Officer |
3
Exhibit 99.1
Infinite Reality Closes $350 Million Investment;
Acquires Landvault in $450 Million Deal,
Valuation Soars to $5.1 Billion
Transactions Fuel Growth and Innovation Initiatives
and Help Cement Company’s Position as a Leader in Immersive Platform Technology and Enterprise Services
Boston, MA – July 9, 2024 –
Newbury Street Acquisition Corporation (Nasdaq: NBST) (“Newbury” or “NBST”), announced today that Infinite
Reality (“iR or the “Company”), an innovation company powering the next generation of digital media and ecommerce
through AI and immersive technologies, today announced a $350 million minority investment from a private multi-family office focused
on global technology, media, and real estate, elevating the Company’s valuation to $5.1 billion. This investment, entirely in
equity and not debt, is new and separate from iR’s goal to complete the previously announced SPAC transaction with Newbury Street
Acquisition Corporation (Nasdaq: NBST) (“Newbury” or “NBST”). The $350 million will be deployed immediately to
accelerate growth.
Additionally, iR announced the $450 million
acquisition of Landvault, a tech company specializing in immersive technology and digital twins for Fortune 500 companies and government
organizations. This all-stock transaction solidifies iR’s foundation to lead the revolution in immersive digital environments. The
proceeds from the significant investment and the integration of Landvault’s cutting-edge tools and expertise in crafting high-fidelity
virtual worlds support Infinite Reality’s aim to be the leader in delivering innovative spatial computing and AI-powered capabilities
that empower brands to better engage and monetize their audiences. Today’s deals, coupled with the Company’s previously announced
acquisitions of The Drone Racing League ($250 million), Ethereal Engine ($75 million), Action Face ($10 million), and Stakes ($8 million),
bring Infinite Reality’s total year-to-date transaction value to $800 million.
Tom Bushey, Chief Executive Officer of Newbury
commented, “These two transactions bolster Infinite Reality’s financial position and technology offerings at an important
time as the Company pursues its journey towards becoming a publicly traded company with Newbury. This year alone we have seen iR go from
strength to strength, and we are excited to see how the Company performs as it enters the next phase of its growth plan.”
As immersive experiences and artificial intelligence
continue to reshape industries, Landvault stands at the forefront of driving technological advancements. The company’s suite of
tools and infrastructure enable the creation, local domain hosting, measurement, and monetization of immersive experiences, accelerating
the growth and scalability of the 3-D internet while putting more data in the hands of businesses. An established industry trailblazer,
the company has built over 1.2 million square feet in virtual experiences for countless high-profile brands including Mastercard, Standard
Chartered, Hershey, and more. Landvault’s impressive portfolio includes award-winning projects such as their work with Dentsu on
the Cannes Lion-winning campaign created for Heineken, showcasing the company’s ability to blend creativity with emerging technology.
Other notable collaborations include projects with Hershey in Decentraland, the World of Women experience in The Sandbox, as well as upcoming
high-profile projects and partnerships in the Middle East, including initiatives with the UAE and Saudi Government, local tourism boards
and real estate companies.
“Now, having joined forces with Landvault
and secured this $350 million fundraise, we possess robust capitalization, financial flexibility, and a fortified position from which
to successfully execute our global go-to-market strategy,” said John Acunto, Co-Founder and CEO of Infinite Reality. “Adding
Landvault, with their substantial presence in the Middle East and Europe, supports our plans for market expansion and helps establish
the Infinite Reality brand as a global leader in immersive tech. We look forward to integrating Landvault’s hundreds of clients
into the Infinite Reality family, further enhancing our reach and capabilities.”
Following the acquisition, Landvault’s existing
employees and creative teams will join the iR team, ensuring continuity and the retention of top talent. Landvault’s presence across
the Middle East will also remain operational, expanding iR’s global footprint and supporting ongoing projects and client relationships.
Sam Huber, Founder & CEO of Landvault, will take on the new role of Global President of Enterprise and CEO of MENA Region (Middle
East and Northern Africa), further strengthening Infinite Reality’s presence and strategic initiatives in the region. As iR continues
its go-public strategy in the U.S., the Company’s newly-expanded global structure also paves a potential path towards additional
capital markets initiatives, including in Europe and the Middle East.
“Joining forces with Infinite Reality allows
us to leverage their extensive resources and expertise to scale our vision to build the future of the internet even further,” said
Sam Huber, Founder and CEO of Landvault. “Together, we will continue to push the boundaries of what is possible today, creating
unparalleled experiences for business and consumers worldwide.”
The acquisition also includes Landvault’s
innovative tools, such as the ability to offer local and custom hosting solutions to its clients, empowering business owners to capture
and manage unique first party data and giving them direct control. Additionally, Landvault provides a comprehensive
monetization SDK including in-game advertising and ecommerce modules to drive revenue from their immersive experiences. These capabilities
have been pivotal in establishing Landvault as a category-defining company in the space, enabling clients to build, deploy, and monetize
high-fidelity digital experiences efficiently.
“With this $350 million fundraise and Landvault’s
impressive project pipeline, we are more bullish than ever about the future of our business,” said Amish Shah, Co-Founder and Chief
Business Officer of Infinite Reality. “The funding gives iR further ammunition to continue to make bold investments and pursue our
ongoing strategy.”
Gibson Dunn served as legal advisors to iR on
the acquisition. BTIG, LLC serves as capital markets advisor to Newbury and Akerman serves as legal counsel for Newbury.
To learn more about Landvault’s
3-D world technology, visit landvault.io. To explore the world of Infinite Reality, visit theinfinitereality.com.
About Infinite Reality
Infinite Reality (iR) is an innovation company
powering the next generation of digital media and ecommerce through AI and immersive technologies. iR’s virtual worlds enable brands
and creators to fully control how they distribute content, engage audiences, and monetize their creations while maintaining ownership
of their data. With deep expertise in Hollywood production and extended reality (XR), iR is redefining the infinite possibilities of connected
digital environments in the modern age. iR’s portfolio of brands includes the iR Engine (formerly Ethereal Engine), Drone Racing
League, XR production facility Thunder Studios, creator talent management firm TalentX, and digital marketing agency Fearless Media. The
company is backed by an impressive roster of investors including RSE Ventures, Liberty Media, Lux Capital, Lerer Hippeau, MGM, CAA, T-Mobile
Ventures, Courtside VC, Exor, Terracap, IAC, Live Nation, DJ and producer Steve Aoki, rock band Imagine Dragons, NBA player Rudy Gobert,
Interscope Records, and more. For more information, go to theinfinitereality.com.
About Landvault
Landvault is building infrastructure to accelerate the 3D Internet,
by building tools to create, deploy and monetize immersive content on the web. The company has helped over 200 clients enter virtual worlds
, including both Fortune 500 companies and government organizations like the Abu Dhabi government, Mastercard, L’Oreal, Red Bull,
and Heineken. The company has raised a total of $40 million over the past three years and continues to pioneer technological advancement.
For more information, visit landvault.io.
About Newbury Street Acquisition Corporation
Newbury Street Acquisition Corporation (NASDAQ: NBST) (“NBST”)
is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one or more businesses or entities. NBST is sponsored by Newbury
Street Acquisition Sponsor LLC. NBST is led by Thomas Bushey, Chief Executive Officer and Kenneth King, Chief Financial Officer. NBST’s
directors include Jennifer Vescio (Chief Business Development Officer at Uber), Matthew Hong (Former COO of Turner Sports), and Teddy
Zee (Former EVP of Columbia Pictures). Additionally, NBST’s advisors include Ted Seides (Capital Allocators), Katie Soo (Former
HBO Max and WB) and Maurice Koo (Rockpool Capital).
Important Information and Where to Find It
In connection with the proposed NBST business combination, NBST and
Infinite Reality Holdings, Inc., a Delaware corporation and a direct wholly-owned subsidiary of NBST, as applicable, plan to file relevant
materials with the U.S. Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4, which
will include a preliminary proxy statement/prospectus and other documents relating to the proposed business combination. After the registration
statement is declared effective by the SEC, NBST will mail the definitive proxy statement/final prospectus to holders of shares of NBST
common stock of a record date to be established in connection with NBST’s solicitation of proxies for vote by NBST shareholders
with respect to the proposed business combination and other matters as described in the proxy statement/prospectus. NBST shareholders
and other interested persons are urged to read the preliminary proxy statement/prospectus and the amendments thereto, the definitive proxy
statement/final prospectus, and documents incorporated by reference therein, as well as other documents filed with the SEC in connection
with the proposed business combination as these materials will contain important information about the proposed business combination.
Shareholders will be able to obtain copies of the preliminary and definitive proxy statement/prospectus and other documents containing
important information about NBST, iR and the proposed business combination filed with the SEC once such documents are available on the
website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
NBST and iR and their respective directors, executive officers and
employees may be deemed to be participants in the solicitation of proxies from the stockholders of NBST in connection with the proposed
transactions under the rules of the SEC. Information about the directors and executive officers of NBST and their ownership of shares
of NBST’s common stock is set forth in its Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with
the SEC on June 5, 2024, and in subsequent documents filed with the SEC, including the joint proxy statement/prospectus to be filed with
the SEC. Additional information regarding the persons who may be deemed participants in the proxy solicitations and a description of their
direct and indirect interests in the proposed transactions, by security holdings or otherwise, will also be included in the joint prospectus/proxy
statement and other relevant materials to be filed with the SEC when they become available.
No Offer or Solicitation
This communication is for informational purposes only and shall not
constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offering of securities in connection with the proposed business combination shall
be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Forward Looking Statements
This communication contains “forward-looking statements,”
within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements may generally
be identified by terminology such as “will,” “shall,” “may,” “should,” “expects,”
“plans,” “anticipates,” “could,” “intends,” “target,” “projects,”
“contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue”
or the negative of these terms or other similar words or expressions that predict or indicate future events or trends that are not statements
of historical matters. These statements are only predictions. NBST and iR have based these forward-looking statements largely on their
then-current expectations and projections about future events and financial trends as well as the beliefs and assumptions of management.
Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are
beyond each of NBST’s and iR’s control. Actual results could differ materially from those stated or implied in forward-looking
statements due to a number of factors, including but not limited to: (i) risks associated with NBST’s ability to obtain the shareholder
approval required to consummate the proposed transactions and the timing of the closing of the proposed transaction, including the risks
that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed transactions
will not occur; (ii) the outcome of any legal proceedings that may be instituted against the parties and others related to the proposed
transactions; and (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination
of the proposed transactions. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of NBST’s Annual Report on Form 10-K for the year ended December 31,
2023, and other filings made with the SEC and that are available on the SEC’s website at www.sec.gov. All of the forward-looking
statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Accordingly,
you should not rely upon forward-looking statements as predictions of future events. Neither NBST nor the iR can assure you that the events
and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from
those projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as
of the date on which the statements are made. Except as required by applicable law or regulation, NBST and iR undertake no obligation
to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect
the occurrence of an unanticipated event.
Investor Contact
Brett Milotte, ICR
Brett.Milotte@icrinc.com
Media Contact
press@theinfinitereality.com
4
Exhibit 99.2
Infinite Reality Closes $350 Million Investment;
Acquires Landvault in $450 Million Deal,
Valuation Soars to $5.1 Billion
Transactions Fuel Growth and Innovation Initiatives
and Help Cement Company’s Position as a Leader in Immersive Platform Technology and Enterprise Services
New York, NY and Dubai, United Arab Emirates
– July 9, 2024 – Infinite Reality (“iR or the “Company”), an innovation company powering the
next generation of digital media and ecommerce through AI and immersive technologies, today announced a $350 million minority investment
from a private multi-family office focused on global technology, media, and real estate, elevating the Company’s valuation to $5.1
billion. This investment, entirely in equity and not debt, is new and separate from iR's goal to complete the previously announced
SPAC transaction. The $350 million will be deployed immediately to accelerate growth.
Additionally, iR announced the $450 million
acquisition of Landvault, a tech company specializing in immersive technology and digital twins for Fortune 500 companies and government
organizations. This all-stock transaction solidifies iR's foundation to lead the revolution in immersive digital environments. The proceeds
from the significant investment and the integration of Landvault’s cutting-edge tools and expertise in crafting high-fidelity virtual
worlds support Infinite Reality’s aim to be the leader in delivering innovative spatial computing and AI-powered capabilities that
empower brands to better engage and monetize their audiences. Today’s deals, coupled with the Company’s previously announced
acquisitions of The Drone Racing League ($250 million), Ethereal Engine ($75 million), Action Face ($10 million), and Stakes ($8 million),
bring Infinite Reality’s total year-to-date transaction value to $800 million.
As immersive experiences and artificial intelligence
continue to reshape industries, Landvault stands at the forefront of driving technological advancements. The company’s suite of
tools and infrastructure enable the creation, local domain hosting, measurement, and monetization of immersive experiences, accelerating
the growth and scalability of the 3-D internet while putting more data in the hands of businesses. An established industry trailblazer,
the company has built over 1.2 million square feet in virtual experiences for countless high-profile brands including Mastercard, Standard
Chartered, Hershey, and more. Landvault’s impressive portfolio includes award-winning projects such as their work with Dentsu on
the Cannes Lion-winning campaign created for Heineken, showcasing the company’s ability to blend creativity with emerging technology.
Other notable collaborations include projects with Hershey in Decentraland, the World of Women experience in The Sandbox, as well as upcoming
high-profile projects and partnerships in the Middle East, including initiatives with the UAE and Saudi Government, local tourism boards
and real estate companies.
"Now, having joined forces with Landvault
and secured this $350 million fundraise, we possess robust capitalization, financial flexibility, and a fortified position from which
to successfully execute our global go-to-market strategy," said John Acunto, co-founder and CEO of Infinite Reality. “Adding
Landvault, with their substantial presence in the Middle East and Europe, supports our plans for market expansion and helps establish
the Infinite Reality brand as a global leader in immersive tech. We look forward to integrating Landvault’s hundreds of clients
into the Infinite Reality family, further enhancing our reach and capabilities.”
Following the acquisition, Landvault's existing
employees and creative teams will join the iR team, ensuring continuity and the retention of top talent. Landvault's presence across the
Middle East will also remain operational, expanding iR’s global footprint and supporting ongoing projects and client relationships.
Sam Huber, Founder & CEO of Landvault, will take on the new role of Global President of Enterprise and CEO of MENA Region (Middle
East and Northern Africa), further strengthening Infinite Reality's presence and strategic initiatives in the region. As iR continues
its go-public strategy in the U.S., the Company’s newly-expanded global structure also paves a path towards additional capital markets
initiatives, including in Europe and the Middle East.
“Joining forces with Infinite Reality allows
us to leverage their extensive resources and expertise to scale our vision to build the future of the internet even further,” said
Sam Huber, Founder and CEO of Landvault. "Together, we will continue to push the boundaries of what is possible today, creating unparalleled
experiences for business and consumers worldwide.”
The acquisition also includes Landvault’s
innovative tools, such as the ability to offer local and custom hosting solutions to its clients, empowering business owners to capture
and manage unique first-party data and giving them direct control. Additionally, Landvault provides a comprehensive monetization SDK including
in-game advertising and ecommerce modules to drive revenue from their immersive experiences. These capabilities have been pivotal in establishing
Landvault as a category-defining company in the space, enabling clients to build, deploy, and monetize high-fidelity digital experiences
efficiently.
“With this $350 million fundraise and Landvault’s
impressive project pipeline, we are more bullish than ever about the future of our business,” said Amish Shah, Co-Founder and Chief
Business Officer of Infinite Reality. “The funding gives iR further ammunition to continue to make bold investments and pursue our
ongoing strategy.”
To learn more about Landvault’s
3-D world technology, visit landvault.io. To explore the world of Infinite Reality, visit theinfinitereality.com.
About Infinite Reality
Infinite Reality (iR) is an innovation company
powering the next generation of digital media and ecommerce through AI and immersive technologies. iR’s virtual worlds enable brands
and creators to fully control how they distribute content, engage audiences, and monetize their creations while maintaining ownership
of their data. With deep expertise in Hollywood production and extended reality (XR), iR is redefining the infinite possibilities of connected
digital environments in the modern age. iR’s portfolio of brands includes the iR Engine (formerly Ethereal Engine), Drone Racing
League, XR production facility Thunder Studios, creator talent management firm TalentX, and digital marketing agency Fearless Media. The
company is backed by an impressive roster of investors including RSE Ventures, Liberty Media, Lux Capital, Lerer Hippeau, MGM, CAA, T-Mobile
Ventures, Courtside VC, Exor, Terracap, IAC, Live Nation, DJ and producer Steve Aoki, rock band Imagine Dragons, NBA player Rudy Gobert,
Interscope Records, and more. For more information, go to theinfinitereality.com.
About Landvault
Landvault is building infrastructure to accelerate the 3D Internet,
by building tools to create, deploy and monetize immersive content on the web. The company has helped over 200 clients enter virtual worlds
, including both Fortune 500 companies and government organizations like the Abu Dhabi government, Mastercard, L’Oreal, Red Bull,
and Heineken. The company has raised a total of $40 million over the past three years and continues to pioneer technological advancement.
For more information, visit landvault.io.
Investor Contact
Brett Milotte, ICR
Brett.Milotte@icrinc.com
Media Contact
press@theinfinitereality.com
v3.24.2
Cover
|
Jul. 09, 2024 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Jul. 09, 2024
|
Entity File Number |
001-40251
|
Entity Registrant Name |
Newbury Street Acquisition Corporation
|
Entity Central Index Key |
0001831978
|
Entity Tax Identification Number |
85-3985188
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
121 High Street
|
Entity Address, Address Line Two |
Floor 3
|
Entity Address, City or Town |
Boston
|
Entity Address, State or Province |
MA
|
Entity Address, Postal Zip Code |
02110
|
City Area Code |
617
|
Local Phone Number |
893-3057
|
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|
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false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
Units, each consisting of one share of Common Stock and one-half of one redeemable warrant |
|
Title of 12(b) Security |
Units, each consisting of one share of Common Stock and one-half of one redeemable warrant
|
Trading Symbol |
NBSTU
|
Security Exchange Name |
NASDAQ
|
Common Stock, par value $0.0001 per share |
|
Title of 12(b) Security |
Common Stock, par value $0.0001 per share
|
Trading Symbol |
NBST
|
Security Exchange Name |
NASDAQ
|
Warrants, each exercisable for one share of Common Stock for $11.50 |
|
Title of 12(b) Security |
Warrants, each exercisable for one share of Common Stock for $11.50
|
Trading Symbol |
NBSTW
|
Security Exchange Name |
NASDAQ
|
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Newbury Street Acquisition (NASDAQ:NBSTU)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024
Newbury Street Acquisition (NASDAQ:NBSTU)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024