secwatch.observer — SEC 8-K summary
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Issuer:     GameSquare Holdings, Inc. (GAME)
CIK:        0001714562
Form:       8-K
Filed at:   2026-10-26T12:00:29+00:00
Accession:  0001493152-26-048423
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 2.01, 3.02, 5.02, 5.07, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

GameSquare closes FanEngine deal, issuing 30% of shares; guides 2027 revenue >$150M, adj EBITDA >$30M
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- Issued 5,439,416 shares to FanEngine securityholders (30% of post-closing outstanding); earnout up to 1,410,218 more shares in two 705,109 tranches.
- Cash earnout up to $50M: $0.50 per $1 of net income above $8M for 2027 (max $25M) and above $25M for 2028 (max $25M).
- 2027 guidance: revenue over $150M, gross margin above 50%, adjusted EBITDA over $30M; 2026 proforma $85M+ revenue, $5M+ EBITDA.
- Board expanded to 8 with FanEngine's Marco Baccanello and Benjamin Hugo; stockholders approved 2026 Stock Incentive Plan.
- IP includes Peaky Blinders (Q4 2026 launch), Simon's Cat and 15 athletes incl. Ben Stokes; deal approved by stockholders Oct 22, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1714562/000149315226048423/0001493152-26-048423-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1714562/000149315226048423/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-048423

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