Esports Technologies to raise 3.5m dollars
Esports Technologies announced a private placement for raising 3 and a half million dollars.
In accordance with the terms of the securities purchase agreements concluded through the mediation of certain institutional and authorized investors, Ebet is going to supply 977,657 stock and warrants shares to purchase stocks of the same number.
At a purchase price each share will be valued 3.58 dollars, with an expected gross revenue of almost 3.5 million dollars before deducting fees and other placement costs in accordance with Nasdaq rules.
During the duration of 5 years after the closing time, the warrants are going to have a strike price in common stock at 5 dollars per share and are going to be exercisable for a duration 6 months following the closing time.
The private placement closure will probably take place during this month on 15th, also maybe earlier than that, the net proceeds are going to be utilized for main corporate goals.
This announcement was made after Ebet reported the results of their financial performance for this year’s Q2.