Esports Entertainment Group Inc (GMBL)

[77Port]

Ameritrade news: Benzinga: "Esports Entertainment Group, Inc. (NASDAQ:GMBL) gained 29% to settle at $7.57. Roth Capital initiated coverage on Esports Entertainment with a Buy rating and announced a price target of $22."

and this is interesting. It's a strong belief in the future of this company. Pay $10 for $17.50 (or more) later. IMHO: this company believes the bottom is in.

November 3, 2021 04:02 PM ET (BZ Newswire) -- News
Esports Entertainment Group, Inc. (NASDAQ:GMBL) (NASDAQ:GMBLW) (or the "Company") today announced it has commenced an underwritten registered public offering of its 10.0% Series A Cumulative Redeemable Convertible Preferred Stock, par value $0.001 per shares (the "Series A Preferred Stock"), at a price of $10.00 per share. Each share of Series A Preferred Stock will be convertible into shares of the Company's common stock, at a conversion price of $17.50 per common share, at any time at the option of the holder. In connection with this offering, the Company expects to grant the underwriters a 45-day option to purchase an additional 225,000 shares of Series A Preferred Stock at the public offering price, less underwriting discounts and commissions.
Currently, no market exists for the Series A Preferred Stock. The Company has filed an application to list the Series A Preferred Stock on the NASDAQ Capital Market under the symbol "GMBLP." If the application is approved, trading of the Series A Preferred Stock is expected to begin within three business days after the initial issuance of the Series A Preferred Stock.
Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as book-running managers for the offering.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-252370) that the Company previously filed with the Securities and Exchange Commission (the "SEC"), which became effective on February 5, 2021. The offering will be made only by means of the written prospectus supplement and the accompanying prospectus that form a part of the registration statement. The preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and, when filed, will be available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may also be obtained by contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, or by telephone at [phone].
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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