sports Entertainment Group has uplisted to Nasdaq and secured an $8.4M public offering.
The company offered nearly 2 million units — each containing one share of common stock, a Unit A warrant and a Unit B warrant — at a price of $4.25 per unit, Proactive Investors reports.
The common stock and Unit A warrants are expected to begin trading Tuesday on the Nasdaq under the tickers GMBL and GMBLW, respectively. The A warrants are exercisable at a price of $4.25 for a period of five years and the B warrants are exercisable for the same price for a period of one year.
The company granted the underwriters a 45-day option to purchase up to an additional 297,000 shares each of common stock, Unit A warrants and/or Unit B warrants. The offering is expected to close on Thursday.
Esports Entertainment is a Malta-based licensed online gambling company with a focus on esports wagering and gaming for adults. The company’s e-sports betting platform VIE.gg offers exchange-style wagering and pool betting on esports events in a licensed, regulated and secured platform.