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Enthusiast Gaming Holdings Inc. Announces Upsize to Previously Announced Bought Deal Financing
Enthusiast Gaming Holdings Inc. Announces Upsize to Previously Announced Bought Deal Fina...
About this update from Enthusiast Gaming Holdings Inc
[{"type":"text","content":"\n \n \n \n Enthusiast Gaming Holdings Inc. Announces Upsize to Previously Announced 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n TORONTO\n \n ,\n \n Jan. 20, 2021\n \n /CNW/ - Enthusiast Gaming Holdings Inc. (\"Enthusiast\" or the \"Company\") (TSX: EGLX) (OTCQB: ENGMF) (FSE: 2AV) is pleased to announce that the Company has upsized its previously announced bought deal financing  pursuant to an amended agreement with a syndicate of underwriters led by Canaccord Genuity Corp. (the \"Underwriters\"). Pursuant to the terms of the amended agreement, the Underwriters have agreed to purchase on a bought deal basis an aggregate, 8,870,000 common shares (the \"Shares\") of Enthusiast Gaming, at a price of\n \n $5.75\n \n per Share (the \"Offering Price\") for total gross proceeds of approximately\n \n $51 million\n \n . Of the aggregate 8,870,00 Shares being offered, 6,420,000 Shares will be issued from treasury by Enthusiast Gaming for gross proceeds of approximately\n \n $36.9 million\n \n (the \"Treasury Offering\") and 2,450,000 Shares will be offered by Blue Ant Media Inc. (the \"Selling Shareholder\") for aggregate gross proceeds to the Selling Shareholder of approximately\n \n $14.1 million\n \n (the \"Secondary Offering\", or together with the Treasury Offering, the \"Offering\"). The Selling Shareholder is selling approximately 13.4% of its holdings of Enthusiast Gaming, and will continue after the Offering to retain a substantial interest in the Company. The Selling Shareholder is not participating in the upsize portion of the Offering and all the incremental proceeds will go to the Company.\n \n \n In addition, the Company and the Selling Shareholder have also granted the Underwriters an over–allotment option (the \"Option\") to purchase, any time up to the date that is 30 days following the closing of the Offering, up to a...