Esports Entertainment Group seeks to raise $30m in capital
Esports giant selling two million common stock shares following New Jersey gaming licence application
Esports Entertainment Group (EEG) is hoping to raise $30m in capital after it sanctioned the sale of two million shares of its common stock.
The Malta-headquartered operator confirmed its decision to put its shares up for sale in a filing with the US Securities and Exchange Commission (SEC) on 5 February.
Nasdaq-listed EEG will sell its two million shares at $15 each to investors in a bid to generate the aforementioned $30m.
New York-based Maxim Group and Joseph Gunnar & Co will act as co-placement agents for EEG’s offering.
The share offering is expected to close on 16 February, or near after, subject to customary closing conditions.
Elsewhere, the operator has filed for a gaming licence in New Jersey as it looks to make inroads in the US.
Last year, EEG secured a 10-year Maltese gaming licence and completed several acquisitions throughout the year, including deals for Argyll Entertainment and Esports Gaming League.