Super League Gaming Raises $13.6M From Secondary Share Sale At Discount

Competitive video gaming and esports entertainment provider Super League Gaming Inc (NASDAQ: SLGG) announced the sale of 1.5 million shares at $9 per share to raise $13.6 million in gross proceeds.

• The offer price signifies an 11.2% discount to the Friday closing price of $10.14.
• Super League currently intends to utilize the offering proceeds for working capital and general corporate purposes, including sales and marketing activities, product development, and capital expenditures.
• The company closed the registered direct offering of 3.1 million and 2.9 million shares, raising gross proceeds of $8 million and $12 million, respectively, in January and February.
• The company acquired live-streaming technology platform Mobcrush in March for an undisclosed sum.
• The company’s cash balance amounted to $7.9 million as of December 31, 2020.
• SLGG stock has gained 353% last year.
• Price action: SLGG share prices traded lower by 3.85% at $9.75 on the last check Monday.