SLGG - Super League Gaming consummates two private financings

2023-05-15 09:21:54 ET

• Super League Gaming ( NASDAQ: SLGG ) has announced that it has consummated two private financings of convertible preferred stock, priced ATM under Nasdaq rules, with the final closing expected to occur later this week.
• The Company received aggregate gross proceeds of ~$23.8M in these financings from Nov. 2022 through May 2023.
• Each share of Preferred Stock was sold at $1,000 per share and is convertible into shares of common stock.
• The capital was raised from both existing and new investors and was used to extinguish the Company’s debt and fund ongoing operations and growth initiatives.
• "We significantly enhanced our balance sheet, while obtaining the necessary capital to fund operations and fuel our near-term growth initiatives,” said Ann Hand, CEO of Super League.

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