Exhibit 99.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 1-U
CURRENT REPORT
Pursuant to Regulation A of the Securities Act of 1933
March 30, 2022
Date of Report: (Date of earliest event reported)
Masterworks 094, LLC
(Exact name of issuer as specified in its charter)
| Delaware | 87-3294202 | |
| State of other jurisdiction of | (I.R.S. Employer | |
| incorporation or organization | Identification No.) |
225 LIBERTY ST., 29th Floor, New York, NY, 10281
(Full mailing address of principal executive offices)
(203) 518-5172
(Issuer’s telephone number, including area code)
www.masterworks.io
(Issuer’s website)
Class A Ordinary Shares
(Securities issued pursuant to Regulation A)
Item 9. Other Events
A promotional email correspondence sent to certain potential investors of the Issuer relating to the Issuer’s ongoing offering of Class A Ordinary Shares pursuant to Regulation A of the Securities Act of 1933, as amended, is attached to the Form 1-U as Exhibit 99.1 and a copy of the transcript of the promotional video embedded in such email correspondence is attached to the Form 1-U as Exhibit 99.2.
Safe Harbor Statement
This Current Report on Form 1-U contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in our most recent Offering Circular filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our periodic filings and offering circular supplements filed with the SEC, which are accessible on the SEC’s EDGAR website. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
Exhibit Index
| Exhibit No. | Description of Exhibit | |
| 99.1 | Promotional email correspondence. | |
| 99.2 | Promotional video transcript. |
SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MASTERWORKS 094, LLC | ||
| By: | /s/ Joshua B. Goldstein | |
| Name: | Joshua B. Goldstein | |
| Title: | General Counsel | |
| Date: March 30, 2022 | ||
Exhibit 99.1
Exhibit 99.2
Hello
My name is Maya Shah, I’m a specialist on the art acquisitions team here at Masterworks.
I am happy to share with you our most recent offerings – an iconic late work by one of the most prolific, and influential artists of the 20th Century – Pablo Picasso.
Homme a la Pipe, created in 1968, belongs to a series of works collectively referred to as Picasso’s Musketeers. The series was inspired by Alexandre Dumas’ classic novel, The Three Musketeers, one of Picasso’s favorites, which he re-read while recovering from surgery, and could allegedly recite whole passages by heart.
A celebrity at the height of his career by the late 1960s, Picasso enjoyed his time at home, away from friends, re-reading his favorites and relished in inventing stories for the musketeers which he began to paint in 1966 and continued to do—through the end of his life. He would spend hour after hour observing them, painting, and thinking of the mad things they were up to.
They are most easily recognized by their colorful regalia, and Homme à la Pipe is no different. Depicted in a three-quarter length view with his ruffled collar and orange epaulette – pipe in hand – a nod to Rembrandt who Picasso looked to for inspiration, throughout his career and particularly during this time… along with Velaszquez and Shakespeare. The painting’s confident linework shows the hand of a master who had, by the time, firmly cemented his position as a titan of 20th Century art.
When the painting was first offered at auction in June of 1999 at Christie’s in London, it sold for the equivalent of just over $830,000 at the time. In recent years, works from the series have achieved prices in excess of $20 million including: “Mousquetaire à la Pipe,” “Le Matador,” and “Homme à l’épée” which each sold for $30.9, $22.7 and $22.5 million dollars respectively.
Between 1987 and 2021, similar paintings from the series, which depict a lone musketeer with the various accoutrements for which they are best known, such as a pipe, sword or dagger, have appreciated at an estimated annual rate of 11.2%.
Picasso frequently leads the market in annual auction sales and between 2010 and 2020 was ranked as either the first or second highest selling artist by value. In 2018 alone his total global auction sales grossed more than $740 million. Two of his top three auction results have set the record for the most expensive paintings ever sold at auction at the time.
Before investing, please be sure to carefully review the Offering Circular and see important disclosures at masterworks dot io slash cd.