secwatch.observer — SEC 8-K summary
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Issuer:     Mobile Global Esports, Inc. (MGAM)
CIK:        0001886362
Form:       8-K
Filed at:   2022-09-23T23:59:59+00:00
Accession:  0001213900-22-058441
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886362/000121390022058441/0001213900-22-058441-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886362/000121390022058441/ea166181-8k_mobileglob.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-058441

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer