Why Esports Entertainment Group Shares Are Falling Over 40%

Esports Entertainment Group Inc GMBL shares are trading lower by 44.68% to $0.18 after the company priced a 30 million share plus warrant public offering at $0.25 per share plus warrant.

What Else?

This offering is expected to close on or about September 19th, subject to customary closing conditions.

Esports Entertainment Group intends to use the net proceeds from this offering for working capital and to repay a portion of its outstanding senior convertible note.

See Also: So Is Dogecoin Heading Back to 5 Cents Or Making A Run To 10 Cents? Survey Says...

According to data from Benzinga Pro, Esports Entertainment Group has a 52-week high of $8.25 and a 52-week low of $0.16.