Esports Entertainment settles $64.5K registration delay with stock; waives preferred redemption on ATM proceeds

ESPORTS ENTERTAINMENT GROUP, INC.

Issuing 10,000 shares at $0.05 initially, then $1,000 every 7 days at lower of $0.05 or 90% of 10-day VWAP to settle $64,500 RRA fee.
Holder waives right to require redemption of preferred with ATM proceeds; 50% net proceeds retained, 50% for Series D then Series C redemption.
ATM proceeds escrowed; released to Holder only when escrow ≥$250k and company makes public disclosure, or upon default.
New settlement replaces expired August 2023 agreement; partial waiver of antidilution for conversions after issuance.

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

ESPORTS ENTERTAINMENT GROUP, INC. entered into Waiver with holder of the Company’s outstanding Series C Convertible Preferred Stock and Series D Convertible Preferred Stock (effective 2023-10-06).

Action: entry
Agreement: atm program
Counterparty: holder of the Company’s outstanding Series C Convertible Preferred Stock and Series D Convertible Preferred Stock
Effective: 2023-10-06

Exact text from the filing

The Company also entered into a waiver agreement (“Waiver”) on October 6, 2023, with the Holder, as a condition to access any net proceeds from the future sale of shares of common stock under the Company’s previously announced “at the market” (or “ATM”) equity offering program

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ESPORTS ENTERTAINMENT GROUP, INC. entered into October Settlement Agreement with holder of the Company’s outstanding Series C Convertible Preferred Stock and Series D Convertible Preferred Stock valued at approximately $64,500 (effective 2023-10-06).

Action: entry
Agreement: settlement
Counterparty: holder of the Company’s outstanding Series C Convertible Preferred Stock and Series D Convertible Preferred Stock
Value: approximately $64,500
Effective: 2023-10-06

Exact text from the filing

On October 6, 2023, Esports Entertainment Group, Inc. (the “Company” “we” or “us”) entered into a settlement agreement (“October Settlement Agreement”) with the holder of the Company’s outstanding Series C Convertible Preferred Stock and Series D Convertible Preferred Stock (the “Holder”) to continue to issue common stock in partial settlement of Registration Rights Fees payable (“RRA Fees”) by the Company under the Registration Rights Agreement, dated May 22, 2023

View on SEC.gov

Browse all material agreements →

ESPORTS ENTERTAINMENT GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-036619

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.