ENGMF - Enthusiast Gaming upsizes earlier announced bought deal financing

Enthusiast Gaming ([[ENGMF]] -16.6%) upsized its earlier announced bought deal financing with a syndicate of underwriters led by Canaccord Genuity wherein underwriters agreed to purchase on a bought deal basis total of 8.87M shares at $5.75/share for total gross proceeds of ~$51M.Underwriters granted 30-day option to purchase up to an additional 1.33M shares.Of the total, 6.42M shares will be issued from treasury by Enthusiast Gaming for gross proceeds of ~$36.9M and 2.45M shares will be offered by selling shareholder, Blue Ant Media for gross proceeds of ~$14.1M.Selling Shareholder is selling ~13.4% of its holdings of Enthusiast Gaming.Net proceeds expected to be used for future acquisitions, working capital and general corporate purposes; the company will not receive proceeds from sale of secondary offering of shares.Offering is expected to close on or about Feb.10.

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Enthusiast Gaming upsizes earlier announced bought deal financing