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- Esport Mogul (ESH) receives binding commitments to raise $1.6 million in an oversubscribed placement
- Mogul will issue 320 million fully paid ordinary shares to sophisticated investors at 0.5 cents per share, a discount of 16.7 per cent from 15-day volume-weighted average price
- The company says post completion of the placement its balance sheet will be around $5.3 million which it says will accelerate its buy and build strategy in the gaming sector
- Settlement of the placement and options is expected to be completed by December 22 of this year
- Shares have been trading in the grey at 0.6 cents
Esports Mogul (ESH) has received binding commitments to raise $1.6 million in an oversubscribed placement.
Mogul will issue 320 million fully paid ordinary shares to sophisticated investors at 0.5 cents per share. This price represents a discount of 16.7 per cent from the 15-day volume-weighted average price of 0.6 cents.
Subscribers in the placement will also receive one free attaching option for every two placement shares subscribed for and issued exercisable at 1 cent.
The company says post completion of the placement its balance sheet will be around $5.3 which it says will accelerate its buy and build a strategy in the gaming sector.
Mogul intends to focus on games companies with “strong teams, great IP, profitable and
engaged audiences to ensure future scalability and continuous growth”.
Settlement of the placement of the options is expected to be completed by December 22 of this year.
Shares last traded in the grey at 0.6 cents at 11.22 am AEDT.
