other material
confidence high
sentiment negative
materiality 0.75
Esports Entertainment converts $3.5M Series C Preferred into 8M shares; dividends up $3.6M
ESPORTS ENTERTAINMENT GROUP, INC.
- Holder converted $3,506,701 of Series C Preferred into 8,025,548 common shares at 90% of lowest 10-day VWAP.
- Dividends on Series C Preferred increased by $3,634,521 due to Alternate Conversion Floor adjustments.
- After conversions, ~$10,038,000 of Series C Preferred remains; common shares outstanding: 22,357,628.
- Unregistered shares issued under Section 3(a)(9); company intends additional equity conversions.