M&A
Esports Entertainment Group Strikes Dual Deal: Direct Offering & Settlement Agreement
In a strategic move, Esports Entertainment Group, Inc. (NASDAQ: GMBL) has unveiled a dual financial maneuver. The company has not only entered into a securities purchase agreement with a prominent institutional investor but also settled a pivotal agreement with a key stockholder.
The securities deal involves the sale of 1,000,000 shares of the company’s common stock, alongside pre-funded warrants for an additional 4,167,959 shares. Priced at a competitive USD 0.1935 per unit, this offering is set to conclude by 16 August 2023.
Parallelly, the company has addressed a delay in its registration statement filing by forging a settlement with the holder of its Series C and Series D Convertible Preferred Stock. This move will see the company issue an initial 10,000 shares at USD 0.10 each, with subsequent weekly settlements to cover outstanding Registration Rights Fees (RRA Fees).
A significant aspect of this settlement is the holder’s agreement to partially waive certain antidilution provisions, contingent upon the establishment of a mutually agreed conversion price.
CEO Alex Igelman commented on the dual deal, emphasizing its strategic importance:
“This capital infusion is a testament to our growth strategy in the iGaming and esports sectors. Our balance sheet has seen a robust transformation this year, and we’re bullish about our company’s trajectory.”
The total proceeds from the offering, before deductions, are pegged at USD 1,000,000. Notably, the company has bypassed placement agents, ensuring no additional fees.
All securities in this offering have been registered under the Securities and Exchange Commission’s Form S-3, effective since 5 February 2021. A detailed report on this offering will soon be available on Form 8-K.
About Esports Entertainment Group: A global frontrunner in esports and iGaming, Esports Entertainment Group has a footprint in over 800 global venues, including academic institutions. The company is poised to capitalize on the booming esports market and has ambitious plans for the e-simulator content sector.
Via Press Release
M&A
Giants Gaming and Excel Esports Join Forces
Two of the biggest esports organizations in Europe, Giants Gaming and Excel Esports, have merged to create GIANTX. The new organization will compete in the top leagues for League of Legends and Valorant.
The esports world recently experienced a shakeup as Giants Gaming, from Spain and Excel Esports from the UK joined forces to create a powerhouse called GIANTX. This is not a merger. The birth of an esports giant that aims to redefine the competitive landscape.
Combining Legacy and Ambition
Giants Gaming with their standing presence since 2008 has established themselves as Spains leading esports organization. They are not known for their excellence. Also as one of the founding members of the League of Legends EMEA Championship showcasing their competitive prowess. On the hand Excel Esports, a rising star formed in 2014 brings their dynamic approach and cutting edge talent to the mix. Their teams in Valorant, League of Legends and EAFC exemplify their commitment to achieving greatness.
Synergy for Dominance
GIANTX is not satisfied, this merger creates a force that spans three key esports markets; Spain, the United Kingdom and Germany. With this positioning they can tap into audiences nurture regional rivalries while expanding their influence, on an international level.
Malaga, Spain and London England will function as the centers, for the organization while a state of the art training facility in Berlin will ensure that their teams maintain their peak performance.
The impact of this merger goes beyond winning competitions. GIANTX aims to expedite the growth of both organizations by expanding into markets and nurturing a thriving esports community. This ambitious vision is supported by the backing of JRJ Group and Toms Capital long term investors in Excel Esports. With their continued involvement in GIANTX the organization possesses the resources to fuel its objectives.
A New Era Begins; Innovation and Rivalry
The birth of GIANTX signifies more than a merger; it represents a statement of intent. The European esports landscape is, on the verge of witnessing an era defined by innovation and intense competition. The arrival of GIANTX promises to push boundaries elevate gameplay standards and inspire generations of esports athletes.
This is not merely a tale of two brands coming together; it is a story that encompasses two distinct esports cultures colliding to create an identity that will redefine norms and leave a mark on the global stage. GIANTX is not another team; it embodies a movement.
The world of esports is, on the verge of experiencing the reverberations of its ascent.
M&A
Version1 Announces Merger with G2 Esports for North American Expansion
Explore the dynamics of the strategic partnership and merger between Version1 and G2 Esports, delving into the impact on North American esports, the acquisition of Call of Duty League franchise rights, and the organizations’ shared vision for future success.
A Major Merger, in the World of Esports
In a move the ownership group behind American esports organization Version1 led by WISE Ventures and entrepreneur Gary Vaynerchuk has officially announced a strategic partnership with European esports powerhouse G2 Esports. This collaboration involves shareholding and a game changing merger that spans across continents.
G2 Esports Expands into the North American Market and Acquires Franchise Rights
As part of this alliance G2 Esports obtains the operating rights for the Minnesota Røkkr Call of Duty League franchise signaling the giants venture into the North American market throughout 2023. This expansion comes after Version1s COO Brett Diamond stated in April 2023 their intention to pursue a merger.
Version1s Presence Across Multiple Titles and G2 Esports Ambitions in North America
Version1 known for its portfolio of esports teams in Rocket League and VALORANT secures a position within this partnership. At the time G2 Esports solidifies its presence in North America by securing a spot in the VCT Americas league, for the competitive VALORANT season of 2024.
Reviving G2 Esports Call of Duty Aspirations
This collaboration marks G2 Esports reentry into Call of Duty esports after fielding a roster during the 2018/19 season.Despite facing obstacles the organizations recent emphasis, on the Call of Duty esports scene showcases their dedication to achieving excellence, in the world of competitive gaming.
M&A
Guild Esports Unveils Strategic Expansion in Counter-Strike: Welcoming Guild Eagles
Explore the strategic brilliance behind Guild Esports’ latest move as they welcome Bad News Eagles into their group, transforming into Guild Eagles in the competitive world of Counter-Strike.
After years of searching Guild Esports has unveiled a compelling glimpse into its strategic roadmap for the future within the professional realm of Counter-Strike, shedding light on the next chapter of its competitive journey. The London-based team, backed by the iconic soccer player David Beckham, has strategically expanded its roster by acquiring the talent of Bad News Eagles. Formerly devoid of accolades, this team now is integrated into Guild Esports’ fold, adopting the new moniker of Guild Eagles.
The incorporation of Bad News Eagles into Guild’s portfolio marks a pivotal step in solidifying its standing in the competitive landscape of Counter-Strike. The roster, which includes Sener Mahmuti, Genc Kolgeci, Flatron Halimi, Dionis Budeci, and Rigon Gashi, demonstrates a talented and promising group.
However, Guild Eagles is not merely a constellation of adept players; it is fortified by a formidable coaching and management team. Coaches Jonatan “Devilwalk” Lundberg, Kieran “KayJay” Playfair, and Kevin “kRYSTAL” Amend, along with seasoned manager James Banks, bring a wealth of experience and strategic acumen to the table.
In terms of immediate action, Guild Eagles is currently immersed in a series of smaller-scale Counter-Strike tournaments, including the highly competitive CCT Online Finals. This immediate involvement not only serves as a platform to showcase their prowess but also acts as an exciting prelude for fans eagerly anticipating the display of skills and strategies from the newly minted Guild Eagles in upcoming higher-profile tournaments.
This strategic addition to Guild Esports lineup positions the organization in a way to face challenges head on and achieve heights in the competitive Counter Strike scene. Fans of the team and esports enthusiasts are filled with anticipation, eagerly waiting for the next chapter of this thrilling journey in the world of competitive gaming. As Guild Eagles spreads its wings, we can expect an exhilarating path in the evolving esports industry.
Image by: Guild Esports
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