---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-027096"
form_type: "8-K"
ticker: "GAME"
cik: "0001714562"
company_name: "GameSquare Holdings, Inc."
filed_at: "2025-09-11T23:59:59+00:00"
generated_at: "2026-05-17T06:53:30.478644+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# GameSquare acquires Click Management for $8.5M; Nasdaq bid price deficiency; Frankly Media shuttered

## Summary
- Acquires Click Management for $4.5M at close, $4M deferred, plus up to $3M earnouts; expected to be accretive.
- Nasdaq notice: stock bid price below $1 for 30 days; compliance period until March 9, 2026.
- Frankly Media operations discontinued Sept 15, 2025; had $46.9M revenue and $1.1M EBITDA loss in 2024.
- Second-half 2025 proforma guidance: revenue $36.8M, adjusted EBITDA $2.9M.
- Cash and onchain holdings $87.7M as of Aug 31, 2025; no debt outstanding.

## SEC filing metadata
- accession: 0001641172-25-027096
- form_type: 8-K
- ticker: GAME
- cik: 0001714562
- company_name: GameSquare Holdings, Inc.
- filed_at: 2025-09-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.01, 7.01, 8.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1714562/000164117225027096/0001641172-25-027096-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1714562/000164117225027096/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-027096
- JSON: https://secwatch.observer/filing/0001641172-25-027096.json
- Plain text: https://secwatch.observer/filing/0001641172-25-027096.txt

## Key facts
- Listing & Compliance Notices
  GameSquare Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2)
  source text: September 10, 2025, GameSquare received a letter (the “Minimum Bid Price Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying GameSquare that for the last 30 consecutive business days, the closing bid price for GameSquare’s common stock (the “Common Stock”) has been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Nasdaq Minimum Bid Price Requirement”). The Minimum Bid Price Notice has no immediate effect on the listing of the Common Stock, and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1714562/000164117225027096/0001641172-25-027096-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.