secwatch.observer — SEC 8-K summary
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Issuer:     ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)
CIK:        0001451448
Form:       8-K
Filed at:   2023-10-23T23:59:59+00:00
Accession:  0001493152-23-037945
Event type: regulatory
Sentiment:  negative
Materiality: 0.80
Item codes: 3.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Nasdaq notifies Esports Entertainment of delisting due to bid price below $0.10; company to appeal
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- Nasdaq staff determined common stock closed at or below $0.10 for 10 consecutive days; trading suspension set for Oct 31 unless hearing requested.
- Company intends to request hearing before Nasdaq Hearings Panel; request automatically stays suspension pending hearing and any extension.
- Prior bid price deficiency grace period (below $1.00) terminated by the new notice; company also under Panel Monitor through June 13, 2024.
- Since Sept 2023, sold 8,440,375 shares under ATM for gross proceeds of $679,016; net proceeds split 50% to company and 50% to preferred stock holders for redemptions.
- As of Oct 20, 67,329,316 common shares outstanding; $322,120 disbursed from escrow to redeem 312 shares of Series D Convertible Preferred Stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223037945/0001493152-23-037945-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223037945/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-037945

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