- FansUnite Entertainment (FANS) has closed its public offering for gross proceeds of $24,792,390
- The units were sold in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario
- Proceeds will be used to fund future acquisitions and to develop new games
- FansUnite is a global sports and entertainment company
- FansUnite Entertainment Inc. (FANS) is up 8.82 per cent, trading at C$0.74 per share at 10:35 am ET
FansUnite Entertainment (FANS) has closed its public offering.
The company issued 27,547,100 units at a price of $0.90 per unit for gross proceeds of $24,792,390, including a partial exercise of the over-allotment option.
Each unit includes one common share and one‐half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $1.30, for a period of 36 months following the closing of the offering.
“We are pleased to see continued demand from new and existing investors that believe in our vision of becoming a global gaming company,” said Scott Burton, CEO of FansUnite.
“With this additional growth capital, we are in the best financial position to date as a company. Since going public in May 2020 we have remained committed in growing our three lines of business while expanding our international footprint to showcase our gaming assets to a growing base of customers. As more jurisdictions around the globe focus on legalizing all forms of betting, we are in a favourable position to have a treasury that can accelerate our expansion plans while being a leader in the international regulated gaming market.”
The units were sold in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
Proceeds will be used to fund future acquisitions, developing new games, launching a new business-to-consumer brand and entering into new partnerships.
FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products.
FansUnite Entertainment Inc. (FANS) is up 8.82 per cent, trading at C$0.74 per share at 10:35 am ET.