Tuesday, March 29, 2022 9:26:17 AM
It's also worth noting the 3 investors that were announced as providing these loans, have already given the company over $3m in convertible notes. If they thought the company was worth $1/share, why would they agree to an exercise price of $1? They are in the business of making money, and my assumption is that they think WINR is worth a lot more than $1, and that's why they accepted $1 exercise price.
The difference between WINR's deal and the recent GMBL deal you reference is that GMBL's deal was a unit deal (stock and a warrant with a $1 exercise pric), sold for $1. WINR's deal isn't an equity sale where these investors can just go dump the shares of common stock and keep the warrant. They received a total of 2,573 shares of stock as a commitment fee, and they have convertible notes, that will likely be repaid with proceeds from the NASDAQ listing raise. Regardless, we are talking about 137,500 warrants and 2,573 shares. Maybe they already sold their shares, since WINR did 2,879 shares of volume yesterday?
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