Motorsport Games Announces Direct Offering Of 460,830 Shares At $2.17 Each
Portfolio Pulse from Benzinga Newsdesk
Motorsport Games has announced a direct offering of 460,830 shares at $2.17 each. Additionally, there will be a concurrent private placement of Series A and B warrants for an additional 460,830 shares each, pending stockholder approval. The closing is expected on July 29, 2024.
July 26, 2024 | 12:46 pm
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Motorsport Games is issuing 460,830 shares at $2.17 each and conducting a private placement of Series A and B warrants for an additional 460,830 shares each, pending stockholder approval. The closing is expected on July 29, 2024.
The direct offering and private placement of warrants will likely dilute existing shares, which could put downward pressure on the stock price in the short term. The pending stockholder approval adds an element of uncertainty.
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