Esports Entertainment issues Series E Preferred to CFO with 600M votes for share increase proposal

ESPORTS ENTERTAINMENT GROUP, INC.

Issued 100 shares of Series E Preferred at $10/share ($1,000 total) to CFO Michael Villani, an accredited investor.
Each Series E share grants 6,000,000 votes, totaling 600M votes, but only on proposals to increase authorized common stock.
Series E shares vote in proportion to common stock on the authorized share increase; no conversion, no dividends, no liquidation rights.
Chairman Chul Woong Lim resigned effective at the 2023 Annual Meeting; no disagreement with the company.
Series E Preferred is redeemable automatically upon effectiveness of the share increase or at board discretion for $10/share.

item 1.01 item 3.02 item 3.03 item 5.02 item 5.03

Executive movements

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Departed

Chul Woong Lim

director

GMBL · ESPORTS ENTERTAINMENT GROUP, INC.

Filed: January 9, 2024, 6:59 PM ET

Chul Woong Lim, a director of the Company, notified the Company that he would be resigning as a director of the Company and would therefore not be standing for reelection to the Company’s Board of Directors (the “Board”) at the 2023 Annual Meeting of the Stockholders (the “2023 Annual Meeting”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Chul Woong Lim departed as director at ESPORTS ENTERTAINMENT GROUP, INC..

Action: resigning
Role: director

Exact text from the filing

Chul Woong Lim, a director of the Company, notified the Company that he would be resigning as a director of the Company and would therefore not be standing for reelection to the Company’s Board of Directors (the “Board”) at the 2023 Annual Meeting of the Stockholders (the “2023 Annual Meeting”).

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.7

ESPORTS ENTERTAINMENT GROUP, INC.: Creation of Series E Preferred Stock through Certificate of Designations, amending the articles of incorporation.

Change: charter amendment

Exact text from the filing

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year The disclosure required by this Item and included in Item 1.01 of this Current Report is incorporated herein by reference.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ESPORTS ENTERTAINMENT GROUP, INC. entered into Subscription and Investment Representation Agreement valued at $1,000.00 in the aggregate (effective 2024-01-05).

Action: entry
Agreement: equity purchase
Value: $1,000.00 in the aggregate
Effective: 2024-01-05

Exact text from the filing

The Company agrees to sell to Subscriber, and Subscriber agrees to purchase from the Company, one hundred (100) shares of the Company’s Series E Preferred Stock, par value $0.001 per share (the “ Securities ”), which Securities shall have the rights, preferences, privileges and restrictions set forth in the Certificate of Designations attached hereto as Exhibit A (the “ Certificate of Designations ”).

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ESPORTS ENTERTAINMENT GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-001856

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