secwatch.observer — SEC 8-K summary
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Issuer:     ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)
CIK:        0001451448
Form:       8-K
Filed at:   2022-12-27T23:59:59+00:00
Accession:  0001493152-22-036591
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 3.02, 3.03, 5.03
LLM model:  deepseek-v4-flash:cloud@v2

Esports Entertainment Group raises $2.15M in December 2022 offering, issues super-voting preferred stock to management
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- Sold 7,065,000 common shares and pre-funded warrants for 17.85M shares to institutional investor at $0.0937 each.
- Net proceeds ~$2.15M; 50% ($1,073,343) remitted to investor for interest on Senior Convertible Note.
- Issued 100 Series B Preferred shares to management for $1,000; each carries 25M votes only on reverse stock split proposal.
- Series B Preferred is non-convertible, pays no dividends, and is redeemable at Board's discretion or upon reverse split approval.
- Offering made under effective Form S-3 shelf registration (No. 333-252370).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451448/000149315222036591/0001493152-22-036591-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451448/000149315222036591/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-036591

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