Captivision Completes Major Project in Seoul with Lotte Group
22 Noviembre 2024 - 6:00AM
Captivision Inc. (“Captivision” or the “Company”) (Nasdaq: CAPT), a
pioneer manufacturer of architectural media glass and innovative
LED solution provider, today announced the successful completion of
its transparent architectural media glass installation at Lotte
Construction’s COEX Magok Le-West mixed-use convention center,
which officially opened this month.
Captivision’s installation spans over 16,000 square feet in
Block CP1 of the convention center, showcasing next-generation
digital media displays that illuminate multiple facades. COEX Magok
Le-West is set to become a landmark property in a premier location,
featuring renowned attractions such as the LG Arts Center and
Science Park, Space K Museum, and Seoul Botanical Garden. The
convention center is surrounded by residential, hospitality,
office, and retail properties, further amplifying the value and
reach of Captivision’s immersive and experiential technology. The
installation has generated approximately $8 million in revenue1 for
Captivision.
COEX Magok Le-West, Seoul
“Joining forces with Lotte Group is emblematic of our
collaboration with world-class partners and we look forward to
building on this success,” said Gary Garrabrant, CEO of
Captivision.
About CaptivisionCaptivision is a pioneering
manufacturer of media glass, combining IT building materials with
architectural glass. The product has a boundless array of
applications including entertainment media, information media,
cultural and artistic content as well as marketing use cases.
Captivision can transform any glass façade into a transparent media
screen with real time live stream capability. Captivision is fast
becoming a solution provider across the LED product spectrum.
Captivision’s media glass and solutions have been implemented in
hundreds of locations globally across sports stadiums,
entertainment venues, casinos and hotels, convention centers,
office and retail properties, and airports. Learn more
at http://www.captivision.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. These forward-looking statements
include, without limitation, statements relating to expectations
for future financial performance, business strategies, or
expectations for the Company’s respective businesses. These
statements are based on the beliefs and assumptions of the
management of the Company. Although the Company believes that its
plans, intentions and expectations reflected in or suggested by
these forward-looking statements are reasonable, it cannot assure
you that it will achieve or realize these plans, intentions or
expectations. These statements constitute projections, forecasts,
and forward-looking statements, and are not guarantees of
performance. Such statements can be identified by the fact that
they do not relate strictly to historical or current facts. When
used in this press release, words such as “believe”, “can”,
“continue”, “expect”, “forecast”, “may”, “plan”, “project”,
“should”, “will” or the negative of such terms, and similar
expressions, may identify forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking.
The risks and uncertainties include, but are not limited to: (1)
the ability to raise financing in the future and to comply with
restrictive covenants related to indebtedness; (2) the ability to
realize the benefits expected from the business combination and the
Company’s strategic direction; (3) the significant market adoption,
demand and opportunities in the construction and digital out of
home media industries for the Company’s products; (4) the ability
to maintain the listing of the Company’s ordinary shares and
warrants on Nasdaq; (5) the ability of the Company to remain
competitive in the fourth generation architectural media glass
industry in the face of future technological innovations; (6) the
ability of the Company to execute its international expansion
strategy; (7) the ability of the Company to protect its
intellectual property rights; (8) the profitability of the
Company’s larger projects, which are subject to protracted sales
cycles; (9) whether the raw materials, components, finished goods,
and services used by the Company to manufacture its products will
continue to be available and will not be subject to significant
price increases; (10) the IT, vertical real estate, and large
format wallscape modified regulatory restrictions or building
codes; (11) the ability of the Company’s manufacturing facilities
to meet their projected manufacturing costs and production
capacity; (12) the future financial performance of the Company;
(13) the emergence of new technologies and the response of the
Company’s customer base to those technologies; (14) the ability of
the Company to retain or recruit, or to effect changes required in,
its officers, key employees, or directors; (15) the ability of the
Company to comply with laws and regulations applicable to its
business; and (16) other risks and uncertainties set forth under
the section of the Company’s Annual Report on Form 20-F entitled
“Risk Factors.”
These forward-looking statements are based on information
available as of the date of this press release and the Company’s
management team’s current expectations, forecasts, and assumptions,
and involve a number of judgments, known and unknown risks and
uncertainties and other factors, many of which are outside the
control of the Company and its directors, officers, and affiliates.
Accordingly, forward-looking statements should not be relied upon
as representing the Company management team’s views as of any
subsequent date. The Company does not undertake any obligation to
update, add or to otherwise correct any forward-looking statements
contained herein to reflect events or circumstances after the date
they were made, whether as a result of new information, future
events, inaccuracies that become apparent after the date hereof or
otherwise, except as may be required under applicable securities
laws.
Media Contact:Dukas Linden Public Relations+1
212.704.7385captivision@dlpr.com
Investor Contact:Gateway GroupRalf Esper+1
949.574.3860CAPT@gateway-grp.com
1 From Q1 2023 – Q4 2024
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d6d01d34-a57f-4159-8cb6-728c75d53eb7
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