- ESE sold 6,164,000 units at a price of $1.40 per unit for gross proceeds of $8,629,600
- Canaccord Genuity Corp. acted as sole bookrunner and lead underwriter
- The underwriters agreed to purchase 5,360,000 units for gross proceeds of $7,504,000
- ESE granted the underwriters an over-allotment option which was exercised in full for additional proceeds of $1,125,600
- The company paid the underwriters a cash commission of $604,072 and issued 431,480 warrants
- ESE Entertainment is a European-based entertainment and technology company focused on gaming, particularly on esports
- ESE Entertainment Inc. (ESE) is down 7.63 per cent, trading at C$1.21 at 12 pm ET
ESE Entertainment (ESE) has closed its previously announced bought deal public offering for gross proceeds of $8,629,600.
The company sold 6,164,000 units at a price of $1.40 per unit.
Canaccord Genuity Corp. acted as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters comprised of Roth Canada, ULC, Stifel Nicolaus Canada Inc., and PI Financial Corp.
The underwriters agreed to purchase 5,360,000 units for gross proceeds of $7,504,000. ESE granted the underwriters an over-allotment option to purchase up to an additional 804,000 units. The underwriters exercised the option in full, resulting in additional gross proceeds of $1,125,600.
Each unit consists of one share and one common share purchase warrant. Each warrant allows the holder to acquire one share at a price of $1.95 at any time before July 19, 2023.
The net proceeds will be used for business development, general working capital, and other general corporate purposes.
The company paid the underwriters a cash commission of $604,072 and issued 431,480 warrants.
Additionally, ESE issued 154,100 units to the lead underwriter as a corporate finance fee.
ESE Entertainment is a European-based entertainment and technology company focused on gaming, particularly on esports.
ESE Entertainment Inc. (ESE) is down 7.63 per cent, trading at C$1.21 at 12 pm ET.