Luckbox looks to raise $5m in special warrants sale
Isle of Man-based esports operator set to sell more than four million shares as it onboards two Paysafe solutions
Esports-centric operator Luckbox is looking to raise C$5m (£2.84m) in capital after entering into an agreement with Gravitas Securities.
The Toronto-listed operator is aiming to sell 4,166,666 special warrants at a price of C$1.20 apiece, which the firm hopes will raise the requisite $5m.
Gravitas will act as the sole agent and bookrunner for the process, having previously worked with Luckbox in funding tranches before its listing in December.
Luckbox has also granted Gravitas the option to offer an additional 625,000 special warrants as part of an over-allotment option, which will be available to purchase up to 30 days after the closing of the initial offering.
Each special warrant will entitle the holder to receive one unit of the company, which is comprised of one common share and one-half of one non-transferable common share purchase warrant.
Elsewhere, Luckbox has entered into an agreement with Paysafe to onboard the payment specialist’s Skrill and Neteller solutions to help facilitate global customer transactions.
Quentin Martin, Luckbox CEO, said: “We are delighted to be working with Skrill and Neteller, two of the most prestigious payment brands in the gambling industry.
“This agreement ensures we have payment options available to players in key markets for us, not least in Latin America, Europe and the CIS region, where esports betting is hugely popular.”
Lorenzo Pellegrino, Skrill and Neteller CEO, added: “Luckbox is on an exciting growth journey in the gaming industry and we are excited to be working with them on multiple fronts to serve the global esports community.”