Super League Closes $2.2 Million Underwritten Public Offering
23 Agosto 2023 - 12:45PM
Super League Gaming, Inc. (Nasdaq: SLGG) (“Super League” or the
“Company”), a leading publisher and creator of immersive
experiences across the world’s largest metaverse gaming platforms,
announced today the closing of an underwritten public offering with
gross proceeds to the Company of approximately $2.2 million, before
deducting underwriting discounts and other estimated expenses
payable by the Company. The base offering consisted of 16,923,077
shares of common stock (or pre-funded warrants in lieu of common
stock) at a price to the public of $0.13 per share (less $0.001 in
exercise price per pre-funded warrant). The Company intends to use
the net proceeds from this offering for working capital and general
corporate purposes.
In addition, the Company has granted Aegis Capital Corp. a
45-day option to purchase common shares and pre-funded warrants of
up to 15% of the number of common shares and pre-funded warrants
sold in the offering solely to cover over-allotments, if any. If
this option is exercised in full, the total gross proceeds of the
offering including over-allotments are expected to be approximately
$2.5 million before deducting underwriting discounts, commissions
and offering expenses.
Aegis Capital Corp. acted as the sole book-running
manager for the Offering.
This offering is being made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-259347), declared
effective by the U.S. Securities and Exchange Commission (the
“SEC”) on November 16, 2021. A final prospectus supplement and
accompanying shelf prospectus describing the terms of the proposed
offering have been filed with the SEC and are available on the
SEC's website located at http://www.sec.gov. Electronic copies of
the final prospectus supplement and the accompanying shelf
prospectus may be obtained by contacting Aegis Capital Corp.,
Attention: Syndicate Department, 1345 Avenue of the Americas, 27th
floor, New York, NY 10105, by email at syndicate@aegiscap.com, or
by telephone at (212) 813-1010. Before investing in this offering,
interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that the Company has filed with the SEC and that are incorporated
by reference in such prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
such offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Super League Gaming
Super League Gaming is a leading, strategically integrated
publisher and creator of games and experiences across the world’s
largest immersive digital platforms. From metaverse gaming
powerhouses such as Roblox, Minecraft, and Fortnite, to the most
popular web3 environments such as The Sandbox and Decentraland, to
bespoke worlds built using the most advanced 3D creation tools,
Super League’s innovative solutions provide incomparable access to
massive audiences of consumers who gather in immersive digital
spaces to socialize, play, explore, collaborate, shop, learn, and
create. As a true end-to-end activation partner for dozens of
global brands, Super League offers a complete range of development,
distribution, monetization, and optimization capabilities designed
to engage users through dynamic, energized programs. As an
originator of new experiences designed by in-house creators and a
network of top developers, a comprehensive set of proprietary
creator tools, and a future-forward team of creative professionals,
Super League accelerates IP and audience success within the fastest
growing sector of the gaming and media industries. For more
information about the Company, go to superleague.com.
Forward-Looking Statements
This press release contains forward-looking statements which
involve substantial risks and uncertainties. Forward-looking
statements are often identifiable by the words “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “objective,” “ongoing,” “plan,” “predict,”
“project,” “potential,” “should,” “will,” or “would,” or the
negative of these terms, or other comparable terminology intended
to identify statements about the future. These statements involve
known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, levels of activity, performance
or achievements to be materially different from the information
expressed or implied by these forward-looking statements. Although
the Company believes that it has a reasonable basis for making each
forward-looking statement contained in this press release, the
Company cautions that these statements are based on a combination
of facts and factors currently known by the Company and its
expectations of the future, about which the Company cannot be
certain. Forward-looking statements are subject to considerable
risks and uncertainties, as well as other factors that may cause
the Company’s actual results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by these forward-looking statements. These
risks and uncertainties include, without limitation, risks and
uncertainties related to whether or not the Company will be able to
raise capital through the sale of shares of Common Stock (or
pre-funded warrants to purchase Common Stock in lieu thereof or in
addition thereto) or otherwise; the final terms of the proposed
offering; market conditions; satisfaction of customary closing
conditions related to the public offering; the Company’s ability to
maintain adequate liquidity and financing sources; various risks
related to the Company’s business operations; and other risks and
uncertainties, including those described within the section
entitled “Risk Factors” in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2022, and subsequent Quarterly
Reports on Form 10-Q, which risk factors are incorporated in the
shelf prospectus and accompanying prospectus supplement by
reference. There can be no assurance that the Company will be able
to complete the public offering on the anticipated terms, or at
all. The Company undertakes no obligation to update the information
contained in this press release to reflect subsequently occurring
events or circumstances, except as required by law.
Investor Relations Contact:
Shannon Devine
MZ North America
Main: 203-741-8811
SLGG@mzgroup.us
Media Contact
Gillian Sheldon
gillian.sheldon@superleague.com
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