Enthusiast gaming announces closing of over-allotment option

Toronto, june 21, 2021 (globe newswire) -- enthusiast gaming holdings inc. (“enthusiast gaming” or the “company”) (nasdaq: eglx) (tsx: eglx), a media and content platform for video game and esports fans to connect and engage, is pleased to announce that the underwriters of the company's recently announced usd$46 million public offering (the “offering”) of 8,000,000 common shares in the capital of the company (the “common shares”) at a price of usd$5.75 per share (the “offering price”) have exercised their over-allotment option (the “over-allotment option”) in full to purchase an additional 1,200,000 common shares (the “option shares”) at the offering price. enthusiast gaming and blue ant media inc. (“blue ant”), one of the company's shareholders, granted the underwriters the over-allotment option, solely to cover the underwriters' over-allocation position, if any, and for market stabilization purposes.
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