secwatch.observer — SEC 8-K summary
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Issuer:     ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)
CIK:        0001451448
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001493152-23-039780
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 3.02, 1.01, 5.03, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Esports Entertainment issues ~3.6M shares on conversion, sells 8.2M shares via ATM through Nov 6
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- Converted ~$189k preferred principal + $1k dividends into 3.57M shares at 90% of lowest VWAP.
- From Oct 23 to Nov 6, sold 8.23M shares via ATM for gross ~$520k; net $504k after $16k fees.
- After conversions, ~$6.28M of Series C Preferred remains; ~$5.99M shares available under ATM.
- ATM proceeds split 50/50 with preferred holder; ~$206k escrowed, need $250k to release.
- Total shares outstanding as of Nov 6: 79.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223039780/0001493152-23-039780-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223039780/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-039780

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer