secwatch.observer — SEC 8-K summary
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Issuer:     Snail, Inc. (SNAL)
CIK:        0001886894
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001493152-23-026297
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Snail Games grants exclusive global rights to Marbis for Ark franchise servers and secures up to $4.05M funding
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- Snail Games USA grants Marbis exclusive 7-year global rights to host and run official and private servers for Ark: Survival Evolved, Ascended, and Ark II.
- Marbis agrees to provide up to $3,000,000 in cash tranches (max $500K each) within 5 business days of drawdown notice.
- Outstanding $1,046,932 in server lease fees from March-June 2023 is included in total funding of $4,046,932.
- Cooperation Agreement covers server hosting, licensing, and sublicensing rights, with exclusive and irrevocable terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886894/000149315223026297/0001493152-23-026297-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886894/000149315223026297/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-026297

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer