ENGMF - Enthusiast Gaming announces $42M bought deal financing

Enthusiast Gaming (ENGMF) agrees to sell on a bought deal basis, an aggregate, 7.3M common shares, at a price of $5.75 per share; total gross proceeds of ~$42M.Underwriters' over–allotment option for up to an additional 15% shares.Net proceeds from the treasury offering are expected to be used for future acquisitions, working capital and general corporate purposes. The company will not receive any proceeds from the sale of common shares associated with the secondary offering.Offering is expected to close on or about February 10, 2020.Michael MacMillan, CEO and co-founder comments, "Since selling Omnia to Enthusiast late last year, we have seen first-hand a stellar management team working together to achieve substantial growth and brand recognition. We continue to be delighted by Enthusiast's focus, resulting in a fantastic portfolio and prospects. We are selling a small portion of our position to rebalance our portfolio, but continue to be a large shareholder of

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Enthusiast Gaming announces $42M bought deal financing