Hong Kong-listed CMON had hoped to sell more than 360 million newly-created shares in a process which would have valued the company at just over $5m, with the money raised going towards developing new games, marketing and events, and general working capital.
CMON's sale of Cthulhu: Death May Die is the latest move in its drive to battle the huge losses the business has chalked up in the past couple of years - and comes alongside the company announcing a new share sale worth 20% of its existing share capital in an attempt to raise money for the company.
Financially-troubled board game publisher CMON has sold its global headquarters as part of a fightback against heavy losses - and is charging some pre-order customers extra to cover tariff costs it says it "cannot absorb given our current financial position".
CMON has sold off two more of its game IPs as it continues its fightback against heavy losses - just 18 months after acquiring them from financially-devastated board game crowdfunding specialist Mythic Games.
CMON was already reeling from a more than $3m loss last year, with falling sales for its crowdfunding campaigns leading the company to its lowest annual revenue since pandemic-hit 2020.
Board game crowdfunding giant CMON has lost two more long-serving senior executives amid its attempt to fight back from heavy 2024 losses and a drastic downsizing spurred by US tariffs volatility.
Financially-troubled board game publisher CMON has sold its flagship IP Zombicide to Asmodee, stripping the company of a series which has raised more than $40m on Kickstarter since its 2012 launch.
Board game publishing major CMON slumped to a loss of more than $3m in 2024 - almost double its total profits from the previous three years combined - as falling sales for its crowdfunding campaigns led the company to its lowest annual revenue since pandemic-hit 2020.
Board game crowdfunding major CMON has followed its profit warning from earlier this month by revealing it is likely to miss its stock exchange deadline for publishing its annual financial results, saying its finance department is currently understaffed.
Board game giant Asmodee has seen its year-on-year sales figures slide for the second quarter in a row - but profits continue to rise at the company as it nears a spin-off from its troubled parent business Embracer Group.
