Allied Gaming & Entertainment gets $6.6M strategic investment; regains Nasdaq compliance

Allied Gaming & Entertainment Inc.

Elite Fun Entertainment buys 7,330,000 shares at $0.90/share for total $6.597M.
Parties agree to negotiate collaboration for organizing live shows and events in Asia.
Elite Fun has partnerships with Tencent and Douyin; will assist with show promotion and ticketing.
Nasdaq confirmed AGAE regained compliance with $1.00 minimum bid price requirement; matter closed.
The purchased shares represent less than 20% of total outstanding shares.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Allied Gaming & Entertainment Inc. entered into Share Purchase Agreement with Elite Fun Entertainment Co., Ltd. valued at $6,597,000 (effective 2023-12-28).

Action: entry
Agreement: equity purchase
Counterparty: Elite Fun Entertainment Co., Ltd.
Value: $6,597,000
Effective: 2023-12-28

Exact text from the filing

On December 28, 2023, Allied Gaming & Entertainment, Inc. (the “Company”) entered into a Share Purchase Agreement (the “Purchase Agreement”) with Elite Fun Entertainment Co., Ltd. (the “Purchaser”), pursuant to which the Purchaser agreed to purchase 7,330,000 shares of common stock of the Company, par value $0.0001 per share (the “Common Stock”) at a purchase price of $0.90 per share (the “Purchased Shares”) for a total purchase price of $6,597,000.

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623 material agreements filed in the last 30 days. Browse all material agreements →

Allied Gaming & Entertainment Inc. filing history →

Source: SEC EDGAR

accession 0000929638-23-003580

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