UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Information.
On January 18, 2024, Falcon’s Treehouse, LLC. (“Falcon’s Treehouse”), a subsidiary of Falcon’s Beyond Global, Inc. (the “Company”), and Qiddiya Investment Company (“QIC”) entered into a Consultancy Services Agreement (the “Services Agreement”), pursuant to which, among other things, Falcon’s Treehouse agreed to provide certain design, technological and construction services related to the design and development of one theme park.
The Services Agreement was entered into in furtherance of the previously disclosed Strategic Investment between the Company’s Falcon’s Creative Group division and QIC and is one of several service agreements entered into with QIC related to the development of Qiddiya, as further described in the Company’s Registration Statement on Form S-1, as amended, filed with the U.S. Securities and Exchange Commission on November 30, 2023.
The Services Agreement has a total contract value of up to approximately $83.1 million, consisting of approximately $64.6 million payable for normal routine design services and $18.5 million payable for additional services. Amounts payable under the Services Agreement will be paid in exchange for the services provided by Falcon’s Treehouse employees based upon agreed rates, with invoices submitted to QIC for its review, acceptance and payment within 60 days of receipt. The Services Agreement has an initial term of completion of 700 calendar days from February 7, 2024 (the “Commencement Date”), or until January 7, 2026, or a term of completion of 1,263 calendar days from the Commencement Date, or until July 24, 2027, if Falcon’s Treehouse is awarded additional services under the Services Agreement. The Services Agreement may be terminated at will by either Falcon’s Treehouse or QIC upon compliance with certain notice periods.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: January 26, 2024 | FALCON’S BEYOND GLOBAL, INC. | |
| By: | /s/ Bruce A. Brown | |
| Name: | Bruce A. Brown | |
| Title: | Executive Vice President of Legal, General Counsel and Corporate Secretary | |
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