---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-029845"
form_type: "8-K"
ticker: "GMBL"
cik: "0001451448"
company_name: "ESPORTS ENTERTAINMENT GROUP, INC."
filed_at: "2023-08-22T23:59:59+00:00"
generated_at: "2026-06-11T05:32:42.525486+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Esports Entertainment converts $1.65M Series C to 10M shares; 36% dilution in a week

## Summary
- Holder converted ~$1.645M of Series C Preferred into 10,033,858 common shares (Aug 16-21, 2023).
- Conversion price set at 90% of lowest VWAP over 10 trading days before conversion (Alternate Conversion Price).
- Following conversions, ~$8.392M of Series C Preferred remains outstanding.
- Common shares outstanding increased to 37,569,445 as of Aug 21, 2023.
- Shares issued under Section 3(a)(9) exemption; no registration required.

## SEC filing metadata
- accession: 0001493152-23-029845
- form_type: 8-K
- ticker: GMBL
- cik: 0001451448
- company_name: ESPORTS ENTERTAINMENT GROUP, INC.
- filed_at: 2023-08-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.02, 1.01, 5.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451448/000149315223029845/0001493152-23-029845-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451448/000149315223029845/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-029845
- JSON: https://secwatch.observer/filing/0001493152-23-029845.json
- Plain text: https://secwatch.observer/filing/0001493152-23-029845.txt

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