Motorsport Games announces $4.03M registered direct offering of 232,188 shares at $17.39

Motorsport Games Inc.

Gross proceeds ~$4.03M from sale of 232,188 shares of Class A common stock at $17.39/share.
Closing expected on or about February 7, 2023; H.C. Wainwright acting as placement agent.
Proceeds to fund game development, working capital, and general corporate purposes.
Shares offered under existing effective S-3 registration statement (File No. 333-262462).
Wainwright to receive 7% cash fee plus warrants for 13,931 shares at $21.738 per share.

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

Motorsport Games Inc. entered into Purchase Agreement with the Purchasers valued at approximately $4.03 million (effective 2023-02-03).

Action: entry
Agreement: equity purchase
Counterparty: the Purchasers
Value: approximately $4.03 million
Effective: 2023-02-03

Exact text from the filing

On February 3, 2023, Motorsport Games Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers listed on the signature pages thereto (the “Purchasers”), pursuant to which the Company agreed to issue and sell to the Purchasers an aggregate of 232,188 shares (the “Registered Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), in a registered direct offering priced at-the-market under Nasdaq rules (the “Offering”) for a purchase price of $17.39 per Registered Share.

View on SEC.gov

Browse all material agreements →

Motorsport Games Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-003633

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.