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Enthusiast Gaming Announces $42 Million Bought Deal Financing
Enthusiast Gaming Announces $42 Million Bought Deal Financing Canada NewsWire ...
About this update from Enthusiast Gaming Holdings Inc
[{"type":"text","content":"\n \n \n \n Enthusiast Gaming Announces $42 Million Bought Deal Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE\n \n UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n ,\n \n Jan. 19, 2021\n \n /CNW/ - Enthusiast Gaming Holdings Inc. (\"\n \n Enthusiast Gaming\n \n \" or the \"\n \n Company\n \n \") (TSX: EGLX)(OTCQB: ENGMF)(FSE: 2AV) is pleased to announce that the Company, along with Blue Ant Media Inc. (the \"\n \n Selling Shareholder\n \n \"), have entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. (the \"\n \n Lead Underwriter\n \n \" and collectively the \"\n \n Underwriters\n \n \"), pursuant the Underwriters have agreed to sell, on a bought deal basis, an aggregate, 7,300,000 common shares (the \"\n \n Shares\n \n \") of Enthusiast Gaming, at a price of\n \n $5.75\n \n per Share (the \"\n \n Offering Price\n \n \") for total gross proceeds of approximately\n \n $42 million\n \n .\n \n \n Under the agreement, 4,850,000 Shares will be issued from treasury by Enthusiast Gaming for gross proceeds of approximately\n \n $27.9 million\n \n (the \"\n \n Treasury Offering\n \n \") and an aggregate of 2,450,000 Shares will be offered by the Selling Shareholder for aggregate gross proceeds to the Selling Shareholder of approximately\n \n $14.1 million\n \n (the \"\n \n Secondary Offering\n \n \", or together with the Treasury Offering, the \"\n \n Offering\n \n \"). The Selling Shareholder is selling approximately 13.4% of their holdings of Enthusiast Gaming, and will continue after the Offering to retain a substantial interest in the Company.\n \n \n \n Michael MacMillan\n \n , CEO and co-founder of Blue Ant, stated \"Since selling Omnia to Enthusiast late last year, we have seen first-hand a stellar management team working together to achieve substantial growth and brand recognition. We continue to be delighted by Enthusiast's focus, resulting in a fantastic portfolio and prospects. W...