Business
Super League Gaming Announces Pricing of $8.4 Million Underwritten Public Offering of Common Stock
SANTA MONICA, Calif., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in competitive video
About this update from Super League Enterprise, Inc.
[{"type":"text","content":"SANTA MONICA, Calif., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in competitive video gaming and esports entertainment for everyday players around the world, today announced the pricing of an underwritten public offering of 4,540,541 shares of its common stock at a public offering price of $1.85 per share. Gross proceeds from the offering, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $8.4 million. In addition, Super League has granted the underwriter a 30-day option to purchase up to an additional 681,081 shares of common stock at the same public offering price per share, to cover over-allotments, if any.\n Super League currently intends to use the net proceeds from the offering for working capital and general corporate purposes, including sales and marketing activities, product development and capital expenditures. The offering is expected to close on August 31, 2020, subject to customary closing conditions. National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (Nasdaq: NHLD), is acting as sole book-running manager for the offering. The offering is being made pursuant to an effective registration statement on Form S-1 (File No. 333-248248), previously filed with the U.S. Securities and Exchange Commission (SEC) on August 21, 2020 and declared effective on August 26, 2020, as well as a related registration statement filed with the SEC on August 27, 2020 pursuant to Rule 462(b) under the Securities Act of 1933, as amended, which became effective automatically upon filing with the SEC. The securities may be offered only by means of a prospectus. A preliminary prospectus describing the terms of the public offering has been filed with the SEC. A final prospectus will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. When available, electronic copies of the final prospectus relating to the offering may be obtained from: National Securities Corporation, 200 Vesey St., 25th Floor, New York, NY 10281, by telephone at (212) 417-3634 or by email at [email protected]. Before investing in the offering, you should read in their entirety the prospectus and the other documents that Super League has fi...