Mobile Global Esports closes $5M private placement of common stock and warrants

Mobile Global Esports, Inc.

Gross proceeds of ~$5M from sale of 1,886,793 units (share + warrant) at $2.65/unit.
Warrants exercisable immediately at $2.90/share, expire 5 years from registration statement effective date.
Proceeds to develop collegiate esports events in India and the company's game platform.
Placement agent WestPark Capital received 9% cash fee and 339,623 warrant shares at $2.915.
Lock-up agreements for insiders restricting stock sales for 90 days after registration effective date.

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