---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-015056"
form_type: "8-K"
ticker: "GMBL"
cik: "0001451448"
company_name: "ESPORTS ENTERTAINMENT GROUP, INC."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T04:50:49.186180+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Esports Entertainment raises ~$4M via Series D Convertible Preferred and warrants

## Summary
- Sold 4,300 shares Series D Preferred at $1,000/share, common warrants for 1,433,333 shares at $1.96, preferred warrants for 4,300 shares.
- Net proceeds estimated at $4M after 7% placement agent fee to Maxim Group LLC.
- Series D terms: conversion price $3.00, alternate conversion price 90% of lowest VWAP over 10 days, floor price $0.39, 5-year warrants.
- Issuance requires stockholder approval if conversion shares exceed 20% of outstanding common.
- Registration rights agreement requires filing within 60 days, effectiveness within 120 days.

## SEC filing metadata
- accession: 0001493152-23-015056
- form_type: 8-K
- ticker: GMBL
- cik: 0001451448
- company_name: ESPORTS ENTERTAINMENT GROUP, INC.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451448/000149315223015056/0001493152-23-015056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451448/000149315223015056/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-015056
- JSON: https://secwatch.observer/filing/0001493152-23-015056.json
- Plain text: https://secwatch.observer/filing/0001493152-23-015056.txt

## Key facts
- Governance Changes
  ESPORTS ENTERTAINMENT GROUP, INC.: Filed a certificate of designation for Series C Convertible Preferred Stock, amending the powers, designations, preferences and other rights of preferred stock (effective 2023-04-28).
  - Change: charter amendment
  - Effective: 2023-04-28
  source text: On April 28, 2023, the Company filed a certificate of designation (the “Series C Certificate of Designations”), with the Secretary of State of the State of Nevada regarding the Company’s shares of preferred stock, par value $0.001 per share, designated as Series C Convertible Preferred Stock, to amend certain powers, designations, preferences and other rights set forth therein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451448/000149315223015056/0001493152-23-015056-index.htm
- Material Agreements
  ESPORTS ENTERTAINMENT GROUP, INC. entered into Securities Purchase Agreement with an institutional investor valued at approximately $4,000,000 (effective 2023-04-30).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an institutional investor
  - Value: approximately $4,000,000
  - Effective: 2023-04-30
  source text: On April 30, 2023, Esports Entertainment Group, Inc. (the “Company,” “we,” “our,” and “us”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an institutional investor (the “Investor”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451448/000149315223015056/0001493152-23-015056-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.