secwatch.observer — SEC 8-K summary
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Issuer:     ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)
CIK:        0001451448
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0001493152-23-042784
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 3.02, 1.01, 5.03, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Esports Entertainment sells 4M shares at ~$0.032 via ATM; proceeds for preferred redemption
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- Sold 4,000,000 shares via ATM for gross proceeds of $128,000; net proceeds $124,000.
- Proceeds allocated 50% to company and 50% to redemption of Series D and Series C preferred stock.
- Approximately $5.5M of Series C Convertible Preferred Stock remains outstanding; no recent conversions.
- As of Nov 24, 2023, 128,404,911 common shares outstanding, reflecting significant dilution.
- $322,000 of escrowed funds disbursed to redeem 312 shares of Series D preferred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223042784/0001493152-23-042784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223042784/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-042784

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