secwatch.observer — SEC 8-K summary
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Issuer:     ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)
CIK:        0001451448
Form:       8-K
Filed at:   2023-12-07T23:59:59+00:00
Accession:  0001493152-23-044034
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 3.02, 1.01, 5.03, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Esports Entertainment converts $2.5M preferred stock into 118.8M shares, issues 127.3M shares via ATM
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223044034/0001493152-23-044034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223044034/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-044034

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