Esports entertainment group announces agreement to complete $4.3 million private placement

St. julians, malta--(newsfile corp. - may 1, 2023) - esports entertainment group, inc. (nasdaq: gmbl) (nasdaq: gmblp) (nasdaq: gmblw) (nasdaq: gmblz) ("esports entertainment" or the "company"), a leading, global igaming company and business-to-business (b2b) esports content and solutions provider, today announced that it has entered into a securities purchase agreement to complete a private placement of new unsecured, series d convertible preferred stock with an institutional investor (the "investor"), which is expected to provide the company with net proceeds of approximately $4.0 million after estimated offering expenses. the private placement may also provide the company with an opportunity for additional funding whereby the investor would receive a warrant to purchase shares of common stock and a warrant to purchase additional shares of series d convertible preferred stock.
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