Motorsport Games Receives $2.5 Million Investment Led by VR Company Pimax

Motorsport Games Inc., the racing game developer and publisher of simulation racing (or sim racing) titles including “Le Mans Ultimate,” announced a private placement offering for gross proceeds of approximately $2.5 million with certain institutional and accredited investors, including an affiliate of Pimax Innovation Inc., a Delaware technology company of high-end virtual reality (VR) headsets, according to officials in a press release.

The investment is expected to improve the company’s cash position, fund working capital and general corporate expenses, and provide funding to accelerate future product development while helping the company regain compliance with The Nasdaq Capital Market’s minimum stockholders’ equity requirement.

Benefits to Both Sides

Stephen Hood, chief executive officer and president of Motorsport Games, stated, “We have been very happy with the response to our very public desire to seek further investment in the Company, and after comprehensive talks with Pimax, we are delighted to conclude their investment in Motorsport Games. This investment comes at a premium of approximately 33% over the closing price of the Company’s Class A common stock as of April 10, 2025, which we believe will inspire confidence in our company.

“Both parties are excited about the potential synergies between our companies. With Motorsport Games’ leading ‘Le Mans Ultimate’ racing simulation title featuring some of the best virtual reality gaming today and Pimax leading the market with innovative VR hardware, the opportunity to combine efforts and deliver a new era in a growing market is infinitely more feasible when working as one.”

Mr. Hood continued, “We are excited to have Pimax as partners and believe that it represents excellent value to our shareholders as we solidify the Company’s financial position to give greater confidence in our ability to excel. Similarly, we expect favorable reception from our passionate fans who are likely to be as excited as we are to have additional funding available for the business.”

Robin Weng, founder and chairman of Pimax, commented, “Sim racing players make up a vital part of the Pimax community. Through our partnership with Motorsport Games, we aim to better understand and address the specific needs of this user group, enhancing their experience with tailored VR solutions. We believe the future of sim racing lies in the shift from flat screens to fully immersive VR. Motorsport Games, known for its industry-leading realism, shares our belief that realism is the most important metric in user experience. Together, we’re accelerating this transition and pushing the boundaries of immersion. Pimax will continue to explore similar vertical partnerships to strengthen our user-focused strategy, build deeper engagement and grow long-term loyalty within our passionate communities.”

To learn more about the legal details of the $2.5 million strategic investment acquired by Motorsport Games Inc., click here.