other material
confidence high
sentiment negative
materiality 0.65
Esports Entertainment converts $343K preferred into 14.1M shares; ATM raises $787K
ESPORTS ENTERTAINMENT GROUP, INC.
- Converted $338K principal plus $5K dividends of Series C Preferred into 14,129,000 common shares at 90% of lowest 10-day VWAP.
- Sold 36,700,000 common shares via ATM for gross proceeds of ~$787,000; ~$4,184,000 remaining capacity.
- Net proceeds ~$753K split 50% to company, 50% to preferred holder for redemption of Series D then C.
- As of Dec 1, 2023, 179,824,726 common shares outstanding; $5,308,000 Series C Preferred remains.
- Escrow account holds ~$913K redemption proceeds; $322K disbursed to redeem 312 Series D shares.