other material
confidence high
sentiment negative
materiality 0.80
Esports Entertainment converts $2.5M preferred stock into 118.8M shares, issues 127.3M shares via ATM
ESPORTS ENTERTAINMENT GROUP, INC.
- Holder converted $2,510,000 principal + $36,000 dividends of Series C Preferred into 118,800,000 common shares at 90% of lowest 10-day VWAP.
- Dividends increased by ~$727,000; ~$3,504,000 Series C remains outstanding.
- Sold 127,290,000 shares via ATM for gross ~$2,450,000; net split 50/50 with Holder for preferred redemptions.
- Shares outstanding as of Dec 6, 2023: 425,971,795.
- Redemption of Series D: $322,000 disbursed for 312 shares; $1.65M held in escrow for future redemptions.