other material
confidence high
sentiment negative
materiality 0.75
Esports Entertainment converts $641K Series C Preferred into 5.13M common shares
ESPORTS ENTERTAINMENT GROUP, INC.
- Holder converted $641,000 of Series C Preferred into 5,128,624 common shares at 90% of lowest VWAP (Aug 23-28, 2023).
- After conversions, $7.75M Series C Preferred remains outstanding; total shares outstanding ~42.7M.
- Shares issued unregistered under Section 3(a)(9); company plans to continue further equity conversions.
- Follows exchange of $15.23M Senior Convertible Note into Series C Preferred in April/May 2023.