Business
Enthusiast Gaming Launches Marketed Public Offering of Common Shares in the United States and Canada
Enthusiast Gaming Launches Marketed Public Offering of Common Shares in the United States...
About this update from Enthusiast Gaming Holdings Inc
[{"type":"text","content":"\n \n \n \n Enthusiast Gaming Launches Marketed Public Offering of Common Shares in the United States and Canada\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}\ntable p, #divContent table p\n{\nmargin: 0px;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n June 9, 2021\n \n /CNW/ - Enthusiast Gaming Holdings Inc. (\"\n \n Enthusiast Gaming\n \n \" or the \"\n \n Company\n \n \") (NASDAQ: EGLX) (TSX: EGLX), a media and content platform for video game and esports fans to connect and engage, today announced the launch of a proposed marketed public offering of common shares (\"\n \n Common Shares\n \n \") in\n \n the United States\n \n and\n \n Canada\n \n . A total of 8,000,000 Common Shares will be offered by the Company (the \"\n \n Offering\n \n \").\n \n \n The Company intends to use the net proceeds of the Offering primarily to strengthen its financial position, inclusive of future acquisitions, working capital, repayment of indebtedness and other general corporate purposes.\n \n \n As part of the Offering, certain directors and senior officers of the Company, as well as the Company's significant shareholder, Blue Ant Media Inc. (\"\n \n Blue Ant\n \n \"), will enter into 90-day lock-up agreements.\n \n \n The Offering will be conducted through a syndicate of underwriters co-led by RBC Capital Markets and Canaccord Genuity as joint lead bookrunning managers (the \"\n \n Lead Underwriters\n \n \"), with B. Riley Securities acting as joint bookrunner and certain other underwriters to be added to the syndicate (collectively with the Lead Underwriters, the \"\n \n Underwriters\n \n \"). The Offering will be priced in the context of the market. The issue price per share and size of the Offering will be confirmed at a later date commensurate with the Company entering into an underwriting agreement with the Underwriters and Blue Ant in respect of the Offering (the \"\n \n Underwriting Agreement\")\n \n and reflected in a final prospectus supplement (the \"\n \n Prospectus Supplement\n \n \").\n \n \n Enthusiast Gaming and Blue Ant will also grant the Underw...