secwatch.observer — SEC 8-K summary
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Issuer:     ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)
CIK:        0001451448
Form:       8-K
Filed at:   2023-12-22T23:59:59+00:00
Accession:  0001493152-23-045996
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Esports Entertainment Group effects 1-for-400 reverse stock split, reduces authorized shares
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- Reverse stock split 1-for-400 reduces outstanding shares from ~426M to ~1.065M.
- Authorized shares reduced from 500M to 1.25M; company will seek stockholder approval to increase.
- Nasdaq Panel granted exception until Jan 24, 2024 to demonstrate bid price compliance.
- Reverse split effective Dec 21, 2023; no fractional shares issued (rounded up).
- Adjustments made to conversion prices for Series C and D preferred stock and warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223045996/0001493152-23-045996-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451448/000149315223045996/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-045996

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