Lucosky Brookman LLP Successfully Represents Esports Entertainment Group, Inc. in $8 Million Public Offering of Preferred Stock
Lucosky Brookman LLP congratulates its client, Esports Entertainment Group (Nasdaq: GMBL), (Nasdaq: GMBLW) on its successful public offering of shares of preferred stock and capital raise of $8,000,000. The Company has commenced an underwritten registered public offering of its 10.0% Series A Cumulative Redeemable Convertible Preferred Stock, par value $0.001 per shares, at a price of $10.00 per share. Each share of Series A Preferred Stock will be convertible into shares of the Company’s common stock, at a conversion price of $17.50 per common share, at any time at the option of the holder. In connection with this offering, the Company expects to grant the underwriters a 45-day option to purchase additional shares of Series A Preferred Stock at the public offering price, less underwriting discounts and commissions.
Lucosky Brookman acted as corporate and securities counsel to the Company, while Maxim Group LLC and Joseph Gunnar & Co., LLC acted as book-running managers for the offering.
The Company has filed an application to list the Series A Preferred Stock on the NASDAQ Capital Market under the symbol “GMBLP.”