Elys Game Technology Announces Closing of $3.0 Million Registered Direct Offering
June 15 2022 - 8:00PM
Business Wire
Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq:
ELYS), an interactive gaming and sports betting technology company,
today announced the closing of the previously announced registered
direct offering with a single institutional investor for the
purchase and sale of 3,166,227 shares of the Company’s common stock
(or common stock equivalents) at a purchase price of $0.9475 per
share of common stock (or common stock equivalent) in a registered
direct offering.
In addition, in a concurrent private placement, the Company also
agreed to issue to the investor warrants to purchase up to
3,166,227 shares of common stock. The warrants have an exercise
price of $0.9475 per share, are exercisable six months from the
date of issuance, and have a term of five years from the initial
exercise date.
H.C. Wainwright & Co. is acted as the exclusive placement
agent for the offering.
The gross proceeds to the Company from this offering were
approximately $3.0 million, before deducting the placement agent’s
fees and other offering expenses payable by the Company. The
Company intends to use the net proceeds from this offering for
working capital and other general corporate purposes.
The shares of common stock (or common stock equivalents)
described above (but not the warrants issued in the concurrent
private placement or the shares of common stock underlying such
warrants) were issued by the Company pursuant to a “shelf”
registration statement on Form S-3 (File No. 333-256815) previously
filed with the Securities and Exchange Commission (the “SEC”) and
declared effective by the SEC on June 14, 2021. The offering of the
shares of common stock (or common stock equivalents) was made only
by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. A final
prospectus supplement and accompanying prospectus relating to the
registered direct offering were filed with the SEC on June 15,
2022. Electronic copies of the final prospectus supplement and
accompanying prospectus may be obtained on the SEC’s website at
http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC
at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at
(212) 865-5711 or e-mail at placements@hcwco.com.
The warrants described above were offered in a private placement
under Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Act”), and Regulation D promulgated thereunder and, along
with the shares of common stock underlying the warrants, have not
been registered under the Act, or applicable state securities laws.
Accordingly, the warrants and underlying shares of common stock may
not be offered or sold in the United States except pursuant to an
effective registration statement or an applicable exemption from
the registration requirements of the Act and such applicable state
securities laws.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a B2B global gaming technology
company operating in multiple countries worldwide, with B2C online
and land-based gaming operations in Italy. Elys offers its clients
a full suite of leisure gaming products and services, such as
sports betting, e-sports, virtual sports, online casino, poker,
bingo, interactive games and slots in Italy and has operations in
five states, including New Jersey and the District of Columbia in
the U.S. market. Elys’ vision is to become a global leader in the
gaming industry through the development of pioneering and
innovative technology.
The Company provides wagering solutions, services online
operators, casinos, retail betting establishments and franchise
distribution networks. Additional information is available on our
corporate website at www.elysgame.com.
Investors may also find us on Twitter @ELYS_gaming.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. In some cases these
statements are identified by the use of the words “could,”
“believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,”
“continue,” “predict,” “potential,” “project” and similar
expressions. These forward-looking statements are based on
management’s expectations and assumptions as of the date of this
press release and are subject to a number of risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, the intended use of proceeds from the
offering and the risk factors described in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2021 and its
subsequent filings with the U.S. Securities and Exchange
Commission, including subsequent periodic reports on Form 10-Q and
current reports on Form 8-K. The information in this release is
provided only as of the date of this release, and the Company
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events,
except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220615006079/en/
Elys Game Technology, Corp. Michele Ciavarella, Executive
Chairman Tel.: 1-628-258-5148 Email: m.ciavarella@elysgame.com
Elys Game Technology (NASDAQ:ELYS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Elys Game Technology (NASDAQ:ELYS)
Historical Stock Chart
From Sep 2023 to Sep 2024