Super League Gaming Announces $8.0 Million Sale of Common Stock
January 12 2021 - 8:00AM
Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a
global leader in competitive video gaming and esports entertainment
for everyday players, today announced the sale of 3,076,924 shares
of its common stock at a price of $2.60 per share. Gross proceeds
from the offering, before expenses, are expected to be
approximately $8.0 million.
Super League currently intends to use the net proceeds from the
offering for working capital and general corporate
purposes, including sales and marketing activities, product
development and capital expenditures.
The transaction is expected to close on or about January 13,
2021, subject to customary closing conditions.
The offering is being made pursuant to an effective registration
statement on Form S-3 (File No. 333-237626), previously filed with
the U.S. Securities and Exchange Commission (SEC) on April 10, 2020
and declared effective on April 20, 2020. The securities may be
offered only by means of a prospectus supplement and accompanying
prospectus that form a part of the registration statement. A
preliminary prospectus supplement relating to the offering will be
filed with the SEC and will be available on the SEC's website
at www.sec.gov.
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 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 Super League Gaming Super League Gaming
(Nasdaq: SLGG) is a leading gaming community and content platform
that gives everyday gamers multiple ways to connect and engage with
others while enjoying the video games they love. Powered by
patented, proprietary technology systems, Super League offers
players the ability to create gameplay-driven experiences they can
share with friends, the opportunity to watch live streaming
broadcasts and gameplay highlights across digital and social
channels, and the chance to compete in events and challenges
designed to celebrate victories and achievements across multiple
skill levels. With gameplay and content offerings featuring more
than a dozen of the top video game titles in the world, Super
League is building a broadly inclusive, global brand at the
intersection of gaming, experiences and entertainment. Whether to
access its expanding direct audience of young gamers and esports
players, or to leverage the company’s remote video production
division, Virtualis Studios, third parties ranging from consumer
brands, video game publishers, professional esports teams,
traditional sports organizations, video content producers, and
more, are turning to Super League to provide integrated solutions
that drive business growth. For more: superleague.com
Forward-Looking StatementsCertain of the
statements made in this press release are forward-looking, such as
those, among others, relating to our expectations regarding the
completion of the proposed offering. Actual results or developments
may differ materially from those projected or implied in these
forward-looking statements. Factors that may cause such a
difference include, without limitation, risks and uncertainties
related to whether or not we will be able to raise capital through
the sale of shares of common stock, the final terms of the proposed
offering, market and other conditions, the satisfaction of
customary closing conditions related to the proposed public
offering and the impact of general economic, industry or political
conditions in the United States or internationally. There can be no
assurance that we will be able to complete the proposed offering on
the anticipated terms, or at all. We will need to raise additional
capital to fund our operations and may be unable to raise capital
when needed, which would force us to delay, reduce or eliminate our
current business initiatives. You should not place undue reliance
on these forward-looking statements, which apply only as of the
date of this press release. Certain other risks are more fully
discussed in the section entitled "Risk Factors" in the prospectus
supplement and the prospectus relating to the offering, our most
recent annual report on Form 10-K, as well as discussions of
potential risks, uncertainties, and other important factors in our
other filings with the SEC. Our SEC filings are available on the
SEC's website at www.sec.gov. In addition, any forward-looking
statements represent our views only as of the issuance of this
release and should not be relied upon as representing our views as
of any subsequent date. We explicitly disclaim any obligation to
update any forward-looking statements.
Investor Relations:Sean McGowan and Cody
SlachGateway Investor Relations(949) 574-3860SLG@GatewayIR.com
Media Contact:Gillian Sheldon(213)
718-3880Gillian.Sheldon@superleague.com
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