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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mega Matrix Inc | AMEX:MPU | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.08 | 5.52% | 1.53 | 1.55 | 1.45 | 1.46 | 21,936 | 15:57:40 |
As filed with the Securities and Exchange Commission on October 25, 2024
File No. 333-277227
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
POST-EFFECTIVE AMENDMENT NO. 1 TO
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Mega Matrix Inc. (As successor in interest to Mega Matrix Corp.) |
(Exact name of registrant as specified in its charter) |
Caymen Islands | Not Applicable | |
(State or other jurisdiction
of incorporation or organization |
(I.R.S. Employer Identification Number) |
103 Tampines Street 86 #03-06 The Alps Residences Singapore |
528576 | |
(Address of Principal Executive Offices) | (Zip Code) |
AMENDED AND RESTATED 2021 EQUITY INCENTIVE PLAN
(Full Title of the Plan)
COGENCY GLOBAL INC.
122 East 42nd Street, 18th Floor
New York, NY 10168
(Name and Address of Agent for Service)
212-947-7200
(Telephone number, including area code, of agent for service)
Please send copies of all communications to:
John P. Yung, Esq.
Daniel B. Eng, Esq.
Lewis Brisbois Bisgaard & Smith LLP
45 Fremont Street, Suite 3000
San Francisco, CA 94105
(415) 362-2580
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
Large accelerated filer | ☐ | Accelerated filer | ☐ |
Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
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 7(a)(2)(B) of the Securities Act. ☐
Explanatory Note
The post-effective amendment (“Post-Effective Amendment”) is being filed with the Securities and Exchange Commission (the “Commission”) pursuant to Rule 414 under the Securities Act of 1933, as amended (the “Securities Act”), by Mega Matrix Inc., an exempted company incorporated under the laws of the Cayman Islands (“Company” or “MPU Cayman”), as the successor to Mega Matrix Corp., a Delaware corporation (“MPU DE”). On October 8, 2024, MPU Cayman, MPU DE, and MPU Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of MPU Cayman (“MPU Merger Sub”) effected a redomicile merger (the “Redomicile Merger”). As a result, MPU Merger Sub merged with and into MPU DE, with MPU DE surviving as a wholly-owned subsidiary of MPU Cayman, pursuant to the Third Amended and Restated Agreement and Plan of Merger, dated May 31, 2024 (the “Merger Agreement”), which Merger Agreement was approved by MPU DE stockholders on September 25, 2024. As a result of the Redomicile Merger, each share of MPU DE’s common stock issued and outstanding prior to October 8, 2024 has been converted into the right to receive one class A ordinary share, par value of $0.001 (“Class A Shares”), of MPU Cayman. In addition, MPU Cayman has assumed all of MPU DE’s rights and obligations under MPU DE’s stock-based benefit and compensation plans and programs as part of the Merger Agreement. All rights to purchase or receive, or receive payment based on, each share of MPU DE’s common stock arising under MPU DE’s equity compensation plans entitles the holder to purchase or receive, or receive payment based on, as applicable, one Class A Share of MPU Cayman.
This Post-Effective Amendment pertains to the adoption by the Company of the registration statement on Form S-8 (File No. 333-277227) filed by MPU DE with the Commission on February 21, 2024 (the “Registration Statement”). The Company hereby expressly adopts the Registration Statement as its own registration statements for all purposes of the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Registration fees were paid at the time of filing of the original Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
The Company hereby incorporates by reference into this registration statement the following documents and information previously filed by the Company or MPU DE with the Commission:
(a) | MPU DE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Commission on March 18, 2024 (“Form 10-K”). |
(b) | MPU DE’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, filed with the Commission on May 8, 2024 and August 14, 2024, respectively. |
(c) | MPU DE’s Current Reports on Form 8-K (excluding Item 7.01) filed with the Commission on May 8, 2024, May 9, 2024, May 14, 2024, May 22, 2024, June 3, 2024, August 5, 2024, August 14, 2024, August 16, 2024, September 3, 2024, September 10, 2024, September 19, 2024, and September 26, 2024. |
(d) | The description of the Class A Shares included in the section titled “DESCRIPTION OF SHARE CAPITAL OF MPU CAYMAN”, beginning on page 74 of the proxy statement/prospectus in the registration statement originally filed by the Company with the Commission on April 20, 2023 (File No. 333-271349), including any amendment or report filed for the purpose of updating such description. |
All documents, reports and definitive proxy or information statements filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of this registration statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement and to be a part hereof from the date of filing of such documents; provided, however, that documents, reports and definitive proxy or information statement, or portions thereof, which are furnished and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this registration statement.
Any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes that statement. Any such statement so modified or superseded shall not constitute a part of this registration statement, except as so modified or superseded.
Item 4. Description of Securities
Not applicable.
Item 5. Interests of Named Experts and Counsel
Not applicable.
II-1
Item 6. Indemnification of Directors and Officers
Cayman Islands law does not limit the extent to which a company’s articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime.
MPU Cayman’s articles of association provide that to the extent permitted by law, the Company shall indemnify its existing or former directors and officers and their personal representatives against all actions, proceedings, costs, charges, expenses, losses, damages and liabilities incurred or sustained by such director or officer, other than by reason of such person’s own dishonesty , in or about the conduct of MPU Cayman’s business or affairs or in the execution or discharge of his duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by such director or officer in defending (whether successfully or otherwise) any civil, criminal, administrative of investigative proceedings concerning MPU Cayman or its affairs in any court or tribunal, whether in the Cayman Islands or elsewhere.
Indemnification Agreements
MPU Cayman expects to enter into indemnification agreements with those directors, executive officers and other officers and employees (including those of its subsidiaries) who had indemnification agreements with MPU DE immediately before the Redomicile Merger. The MPU Cayman indemnification agreements will be substantially similar to the MPU DE’s existing indemnification agreements and will generally require that MPU Cayman indemnify and hold an indemnitee harmless to the fullest extent permitted by law for liabilities arising out of the indemnitee’s current or past association with MPU Cayman, any subsidiary of MPU Cayman or another entity where he or she is or was serving at MPU Cayman’s request as a director or officer or in a similar capacity that involves services with respect to any employee benefit plan.
Item 7. Exemption from Registration Claimed
Not applicable.
Item 8. Exhibits
* | Filed herewith |
II-2
Item 9. Undertakings.
A. | The undersigned Registrant hereby undertakes: |
1. | To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: |
(i) | To include any prospectus required by section 10(a)(3) of the Securities Act of 1933; |
(ii) | To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and |
(iii) | To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement. |
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) herein do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act (15 U.S.C. 78m or 78o(d)) that are incorporated by reference in the registration statement. |
2. | That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
3. | To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. |
B. The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
C. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
II-3
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Post Effective Amendment to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Hong Kong S.A.R, on October 25, 2024.
Mega Matrix Inc., a Cayman Islands exempted company | ||
By: | /s/ Yucheng Hu | |
Name: | Yucheng Hu | |
Title: | Chief Executive Officer (Principal Executive Officer) |
POWER OF ATTORNEY AND SIGNATURE
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Yucheng Hu and Carol Wang, and each of them, as his or her true and lawful attorney-in-fact and agent, with full power of substitution, for him or her and in his or her name, place and stead, to sign any amendment (including post-effective amendments) to this registration statement (or any other registration statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Commission, granting unto said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she may do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or any of them, or of his or her substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities and on the date indicated.
Signature | Capacity | Date | ||
/s/ Yucheng Hu | Chief Executive Officer, President and Director | October 25, 2024 | ||
Yucheng Hu | (Principal Executive Officer) | |||
/s/ Qin (Carol) Wang | Chief Financial Officer | October 25, 2024 | ||
Qin (Carol) Wang | (Principal Financial and Accounting Officer) | |||
/s/ Jianan Jiang | Director | October 25, 2024 | ||
Jianan Jiang | ||||
/s/ Qin Yao | Director | October 25, 2024 | ||
Qin Yao | ||||
/s/ Siyuan Zhu | Director | October 25, 2024 | ||
Siyuan Zhu | ||||
/s/ Junyi Dai | Director | October 25, 2024 | ||
Junyi Dai |
II-4
SIGNATURE OF AUTHORIZED REPRESENTATIVE OF THE REGISTRANT
Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Mega Matrix Inc. has signed this registration statement in the City of New York, State of New York, United States, on the th day of October 25, 2024.
Authorized U.S. Representative | ||
Cogency Global Inc. | ||
/s/ Colleen A. De Vries | ||
Name: | Colleen A. De Vries | |
Title: | Senior Vice President, on behalf of Cogency Global Inc. |
II-5
Exhibit 5.1
Mega Matrix Inc. | D +852 3656 6054 | |
E nathan.powell@ogier.com | ||
Reference: NMP/CLE/503979.00001 | ||
25 October 2024 |
Dear Sirs
Mega Matrix Inc. (the Company)
We have acted as Cayman Islands counsel to the Company in connection with the Company’s registration statement on Form S-8, including all amendments or supplements thereto (the Registration Statement), as filed with the United States Securities and Exchange Commission (the Commission) under the United States Securities Act of 1933, as amended to date (the Act). The Registration Statement relates to the Company’s amended and restated 2021 equity incentive plan (the 2021 Equity Incentive Plan), originally filed by Mega Matrix Corp., a Delaware company (MPU DE), which covered a total of 1,580,000 shares of common stock of MPU DE and was assumed by the Company after a redomicile merger consummated on 8 October 2024. After the merger, each issued and outstanding share of MPU DE’s common stock outstanding prior to 8 October 2024 has been converted to the right to receive one class A ordinary share, par value of $0.001 (Class A Ordinary Share), of the Company. In addition, each outstanding option and warrant exercisable into common stock of MPU DE has been assumed by the Company under the same terms and conditions. We are furnishing this opinion as Exhibit 5.1 to the Registration Statement.
Unless a contrary intention appears, all capitalised terms used in this opinion have the respective meanings set forth in the Documents (as defined below). The headings herein are for convenience only and do not affect the construction of this opinion.
Ogier Providing advice on British Virgin Islands,
Floor 11 Central Tower 28 Queen’s Road Central Central Hong Kong
T +852 3656 6000 F +852 3656 6001 ogier.com |
Partners Nicholas Plowman Nathan Powell Anthony Oakes Oliver Payne Kate Hodson David Nelson Justin Davis Joanne Collett Dennis Li |
Florence Chan* Lin Han† Cecilia Li** Rachel Huang** Yuki Yan** Richard Bennett**‡ James Bergstrom‡ Marcus Leese‡
|
* admitted in New Zealand † admitted in New York ** admitted in England and Wales ‡ not ordinarily resident in Hong Kong |
Page 2 of 4
1 | Documents examined |
For the purposes of giving this opinion, we have examined originals, copies, or drafts of the following documents (the Documents):
(a) | the certificate of incorporation of the Company dated 11 October 2022 and the certificate of incorporation on change of name in respect of the Company dated 20 September 2023 issued by the Registrar of Companies of the Cayman Islands (the Registrar); |
(b) | the second amended and restated memorandum and articles of association of the Company as adopted by special resolution passed on 30 May 2024 (the Memorandum and Articles); |
(c) | a certificate of good standing dated 16 July 2024 (the Good Standing Certificate) issued by the Registrar in respect of the Company; |
(d) | the register of directors and officers of the Company dated 21 May 2024 (the Register of Directors); |
(e) | a certificate from a director of the Company dated 25 Oct 2024 as to certain matters of facts (the Director’s Certificate); |
(f) | the written resolutions of all the directors of the Company dated 30 May 2024 and 24 Oct 2024 approving, inter alia, the Company’s filing of the Registration Statement and issuance of the securities (the Board Resolutions); |
(g) | a copy of the 2021 Equity Incentive Plan; and |
(h) | the Registration Statement. |
2 | Assumptions |
In giving this opinion we have relied upon the assumptions set forth in this paragraph 2 without having carried out any independent investigation or verification in respect of those assumptions:
(a) | all original documents examined by us are authentic and complete; |
(b) | all copy documents examined by us (whether in facsimile, electronic or other form) conform to the originals and those originals are authentic and complete; |
(c) | all signatures, seals, dates, stamps and markings (whether on original or copy documents) are genuine; |
(d) | each of the Good Standing Certificate, the Director’s Certificate and the Register of Directors is accurate and complete as at the date of this opinion; |
(e) | the Memorandum and Articles provided to us are in full force and effect and have not been amended, varied, supplemented or revoked in any respect; |
(f) | all copies of the Registration Statement are true and correct copies and the Registration Statement conform in every material respect to the latest drafts of the same produced to us and, where the Registration Statement has been provided to us in successive drafts marked-up to indicate changes to such documents, all such changes have been so indicated; |
(g) | the Board Resolutions remain in full force and effect and have not been, and will not be, revoked, rescinded or amended in any way, and each of the directors of the Company has acted in good faith with a view to; |
(h) | each of the directors of the Company has acted in good faith with a view to the best interests of the Company and has exercised the standard of care, diligence and skill that is required of him or her in approving the 2021 Equity Incentive Plan and no director has a financial interest in or other relationship to a party of the transactions contemplated by the 2021 Equity Incentive Plan which has not been properly disclosed in the Board Resolutions; |
Page 3 of 4
(i) | neither the directors and shareholders of the Company have taken any steps to wind up the Company or to appoint a liquidator of the Company and no receiver has been appointed over any of the Company’s property or assets; |
(j) | the Company shall have sufficient number of unissued shares in its authorised share capital at the time of issuance of the shares (the ESOP Shares) under the 2021 Equity Incentive Plan, which plan covers a total of 1,580,000 Class A Ordinary Shares, in order for it to issue the ESOP Shares without needing to first increase its authorised share capital; |
(k) | the consideration payable for each ESOP Shares shall be no less than the par value of US$0.001 each; and |
(l) | there is no provision of the law of any jurisdiction, other than the Cayman Islands, which would have any implication in relation to the opinions expressed herein. |
3 | Opinions |
On the basis of the examinations and assumptions referred to above and subject to the limitations and qualifications set forth in paragraph 4 below, we are of the opinion that:
Corporate status
(a) | The Company has been duly incorporated as an exempted company with limited liability and is validly existing and in good standing with the Registrar under the laws of the Cayman Islands. |
Authorised Share capital
(b) | The authorised share capital of the Company is USD120,000 divided into (i) 100,000,000 class A ordinary shares of par value USD0.001 each, (ii) 10,000,000 class B ordinary shares of par value USD0.001 each and (iii) 10,000,000 Preferred Shares of par value USD0.001 each. |
Valid Issuance of Shares
(c) | The ESOP Shares to be issued under the 2021 Equity Incentive Plan have been duly authorised by all necessary corporate actions of the Company under the Memorandum and Articles and, upon the issuance and delivery of the ESOP Shares in accordance with the Memorandum and Articles, the Resolutions and the terms of the 2021 Equity Incentive Plan and once consideration of not less than the par value is fully paid per ESOP Share in accordance with the 2021 Equity Incentive Plan to the Company, the ESOP Shares will be validly issued, fully paid and non-assessable. Once the register of members of the Company has been updated to reflect the issuance of the ESOP Shares, the shareholders recorded in the register of members of the Company will be deemed to have legal title to the shares of the Company set out against their respective name. |
4 | Limitations and Qualifications |
4.1 | We offer no opinion: |
(a) | as to any laws other than the laws of the Cayman Islands, and we have not, for the purposes of this opinion, made any investigation of the laws of any other jurisdiction, and we express no opinion as to the meaning, validity, or effect of references in the 2021 Equity Incentive Plan to statutes, rules, regulations, codes or judicial authority of any jurisdiction other than the Cayman Islands; or |
(b) | except to the extent that this opinion expressly provides otherwise, as to the commercial terms of, or the validity, enforceability or effect of the Form S-8, the accuracy of representations, the fulfilment of warranties or conditions, the occurrence of events of default or terminating events or the existence of any conflicts or inconsistencies among the Registration Statement and any other agreements into which the Company may have entered or any other documents. |
Page 4 of 4
4.2 | Under the Companies Act (Revised) (Companies Act) of the Cayman Islands annual returns in respect of the Company must be filed with the Registrar, together with payment of annual filing fees. A failure to file annual returns and pay annual filing fees may result in the Company being struck off the Register of Companies, following which its assets will vest in the Financial Secretary of the Cayman Islands and will be subject to disposition or retention for the benefit of the public of the Cayman Islands. |
4.3 | In good standing means only that as of the date of this opinion the Company is up-to-date with the filing of its annual returns and payment of annual fees with the Registrar. We have made no enquiries into the Company’s good standing with respect to any filings or payment of fees, or both, that it may be required to make under the laws of the Cayman Islands other than the Companies Act. |
5 | Governing law of this opinion |
5.1 | This opinion is: |
(a) | governed by, and shall be construed in accordance with, the laws of the Cayman Islands; |
(b) | limited to the matters expressly stated in it; and |
(c) | confined to, and given on the basis of, the laws and practice in the Cayman Islands at the date of this opinion. |
5.2 | Unless otherwise indicated, a reference to any specific Cayman Islands legislation is a reference to that legislation as amended to, and as in force at, the date of this opinion. |
6 | Reliance |
We hereby consent to the filing of this opinion as an exhibit to the Form S-8.
This opinion may be used only in connection with the Registration Statement while the 2021 Equity Incentive Plan is effective.
Yours faithfully
/s/ Ogier | |
Ogier |
Exhibit 23.1
A Top 18 Audit Firm
10 Anson Road, #20-16 International Plaza, Singapore 079903.
UEN: T12LL1223B GST Reg No : M90367663E
Tel: (65) 6227 5428
10 Anson Road #20-16 International Plaza Singapore 079903
Website : www.allianceaudit.com
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in this Registration Statement of Mega Matrix Inc. (the “Company”) on Post-Effective Amendment No. 1 to Form S-8 of our report dated March 18, 2024, relating to the consolidated financial statements of Mega Matrix Corp., appearing in its Annual Report on Form 10-K for the year ended December 31, 2023. Our report includes an explanatory paragraph regarding restatements of previously issued financial statements.
/s/ Audit Alliance LLP
Singapore
October 25, 2024
Registered Office: 10 Anson Road #20-16 International Plaza Singapore 079903
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