Allied Esports Entertainment Announces Proposed Public Offering of Common Stock
January 29 2020 - 7:30AM
Business Wire
Allied Esports Entertainment, Inc. (NASDAQ: AESE) (“Allied
Esports”), a global esports entertainment company, today announced
that it has commenced an underwritten public offering of its common
stock. The shares are being offered by Allied Esports and certain
selling stockholders. In addition, Allied Esports expects to grant
the underwriters a 30-day option to purchase additional shares of
its common stock at the public offering price, less underwriting
discounts and commissions, to cover over-allotments, if any. The
proposed offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Allied Esports intends to use the net proceeds from the proposed
offering to fund general corporate activities and working capital
requirements. Allied Esports will not receive any proceeds from the
sale of common stock by the selling stockholders in the proposed
offering.
Northland Capital Markets and Roth Capital Partners are acting
as joint book-running managers and Dougherty & Company is
acting as co-manager for the proposed offering.
A registration statement on Form S-1 (File No. 333-235602),
including a preliminary prospectus, relating to the proposed
offering has been filed with the U.S. Securities and Exchange
Commission (the "SEC"), but has not yet become effective. The
shares of common stock may not be sold, nor may offers to buy be
accepted, prior to the time the registration statement becomes
effective.
The proposed offering will be made only by means of a
prospectus. Copies of the preliminary prospectus and prospectus,
when available, may be obtained by contacting Northland Capital
Markets at 150 South Fifth Street, Suite 3300, Minneapolis,
Minnesota 55402, Attention: Heidi Fletcher, by calling (612)
851-4918 or by email at hfletcher@northlandcapitalmarkets.com or by
contacting Roth Capital Partners at 888 San Clemente Drive, Suite
400, Newport Beach, California 92660, Attention: Equity Capital
Markets, by calling (800) 678-9147 or by email at
rothecm@roth.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Allied Esports
Allied Esports Entertainment, Inc. (NASDAQ: AESE) is a global
leader in esports entertainment, providing innovative
infrastructure, transformative live experiences, multiplatform
content and interactive services to audiences worldwide through its
strategic fusion of two powerful entertainment brands: Allied
Esports International, Inc. (Allied Esports) and the World Poker
Tour (WPT). Allied Esports Entertainment was created in August 2019
when Black Ridge Acquisition Corp. completed its business
combination with Allied Esports and WPT Enterprises.
Allied Esports is an award-winning, innovative esports company
comprised of a global network of dedicated esports properties and
content production facilities. Its mission is to connect players,
streamers and fans around the world through integrated arenas,
including its flagship venue, HyperX Esports Arena Las Vegas, its
fleet of mobile esports trucks, the HyperX Esports Trucks, and
affiliate members of the Allied Esports Property Network, which
serve as both competition battlegrounds and everyday content
generation hubs.
World Poker Tour is the premier name in internationally
televised gaming and entertainment with brand presence in
land-based tournaments, television, online, and mobile. WPT ignited
the global poker boom in 2002 with the creation of its iconic
television show, now in its 18th season, based on a series of
high-stakes poker tournaments. ClubWPT.com is a unique online
membership platform that offers inside access to the WPT.
Forward-Looking Statements
This press release includes “forward looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. When used in this
press release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
the control of us, that could cause actual results or outcomes to
differ materially from those discussed in the forward-looking
statements. Important factors, among others, that may affect actual
results or outcomes include: our ability to successfully complete
the proposed offering; our ability to execute on our business plan;
our ability to retain key personnel; general economic and market
conditions impacting demand for our products and services; adequacy
of our funds for future operations; our future expenses, revenue
and profitability; our ability to develop new products; our
dependence on key suppliers, manufacturers and strategic partners;
and industry trends and the competitive environment in which we
operate. These and other risk factors are discussed in our reports
filed with the SEC and the registration statement on Form S-1 (File
No. 333-235602) we filed with the SEC for the proposed offering. We
do not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200129005271/en/
Media Contact: Brian Fisher Allied Esports
brian@alliedesports.com
Investor Contact: Lasse Glassen Addo Investor Relations
lglassen@addoir.com 424-238-6249
Allied Esports Entertain... (NASDAQ:AESE)
Historical Stock Chart
From Apr 2024 to May 2024
Allied Esports Entertain... (NASDAQ:AESE)
Historical Stock Chart
From May 2023 to May 2024