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  • ESE sold 6,164,000 units at a price of $1.40 per unit for gross proceeds of $8,629,600
  • Canaccord Genuity Corp. acted as sole bookrunner and lead underwriter
  • The underwriters agreed to purchase 5,360,000 units for gross proceeds of $7,504,000
  • ESE granted the underwriters an over-allotment option which was exercised in full for additional proceeds of $1,125,600
  • The company paid the underwriters a cash commission of $604,072 and issued 431,480 warrants
  • ESE Entertainment is a European-based entertainment and technology company focused on gaming, particularly on esports
  • ESE Entertainment Inc. (ESE) is down 7.63 per cent, trading at C$1.21 at 12 pm ET

ESE Entertainment (ESE) has closed its previously announced bought deal public offering for gross proceeds of $8,629,600.

The company sold 6,164,000 units at a price of $1.40 per unit.

Canaccord Genuity Corp. acted as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters comprised of Roth Canada, ULC, Stifel Nicolaus Canada Inc., and PI Financial Corp. 

The underwriters agreed to purchase 5,360,000 units for gross proceeds of $7,504,000. ESE granted the underwriters an over-allotment option to purchase up to an additional 804,000 units. The underwriters exercised the option in full, resulting in additional gross proceeds of $1,125,600.

Each unit consists of one share and one common share purchase warrant. Each warrant allows the holder to acquire one share at a price of $1.95 at any time before July 19, 2023.

The net proceeds will be used for business development, general working capital, and other general corporate purposes.

The company paid the underwriters a cash commission of $604,072 and issued 431,480 warrants.

Additionally, ESE issued 154,100 units to the lead underwriter as a corporate finance fee.

ESE Entertainment is a European-based entertainment and technology company focused on gaming, particularly on esports.

ESE Entertainment Inc. (ESE) is down 7.63 per cent, trading at C$1.21 at 12 pm ET.

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