Mobile Global Esports Inc MGAM shares are soaring Monday on post-IPO volatility.
Mobile Global Esports announced the pricing of its IPO on Friday. The company is offering 1.5 million common shares at a public offering price of $4 per share, for gross proceeds of approximately $6 million. The offering is expected to close on Tuesday.
Mobile Global Esports is a mobile esports company with an esports and social platform that includes proprietary compression technology, as well as holding trademark and IP rights for collegiate esports tournaments and players in India.
The stock is trending across social media platforms today. It was among the top trending tickers on Stocktwits at last check.
MGAM Price Action: Mobile Global Esports traded as high as $20.74 before pulling back.
The stock was up 57.8% at $17.66 at press time, according to data from Benzinga Pro.
Photo: Yves Sorge from Flickr.
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