secwatch.observer — SEC 8-K summary
======================================

Issuer:     ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)
CIK:        0001451448
Form:       8-K
Filed at:   2023-12-04T23:59:59+00:00
Accession:  0001493152-23-043583
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 converts $343K preferred into 14.1M shares; ATM raises $787K
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223043583/0001493152-23-043583-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223043583/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-043583

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