EBET Raises $3.5M Via Equity Offering

EBET Inc EBET entered into securities purchase agreements with institutional and accredited investors to issue 0.97 million shares and warrants to buy up to an aggregate of 0.97 million shares.
The private placement, priced at $3.58 per share of common stock and associated warrant, will result in expected gross proceeds of $3.5 million.
The warrants will have an exercise price of $5.00 per share of common stock and will be exercisable six months from the closing of the offering for a period of five years from the closing date.
The closing of the offering is expected to occur on or before June 15, 2022.
Price Action: EBET shares are trading lower by 19.78% at $2.88 on the last check Friday.