secwatch.observer — SEC 8-K summary
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Issuer:     GameSquare Holdings, Inc. (GAME)
CIK:        0001714562
Form:       8-K
Filed at:   2024-06-20T23:59:59+00:00
Accession:  0001493152-24-024565
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GameSquare sells 25.5% stake in FaZe Media for $9.5M to entity controlled by FaZe Banks
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- Purchase price $1.66/share; first tranche of 2,862,500 shares closed June 17, second expected by Aug 15, 2024.
- GameSquare retains voting control for two years and will continue to consolidate FaZe Media's financials.
- Purchaser has option to buy up to 3,230,556 additional shares at fair market value but not less than $2/share.
- FaZe Media had revenue of $30.0M for year ended March 31, 2024; GameSquare also owns 100% of FaZe Esports.
- Proceeds to be used for growth and working capital; GameSquare raised over $36M in non-dilutive capital from recent asset sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1714562/000149315224024565/0001493152-24-024565-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1714562/000149315224024565/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-024565

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