HENDERSON, Nev., Oct. 11, 2023 (GLOBE NEWSWIRE) -- Gamer Pakistan Inc. (NASDAQ:GPAK), an early-stage technology and esports company focused on game development and in-game AI community engagement, and organizing esports events in Pakistan, today announced the closing of its initial public offering of 1,700,000 shares at a public offering price per share of $4.00. The Company's stock began trading on the Nasdaq Capital Market under the ticker symbol "GPAK".
The gross proceeds to Gamer Pakistan from the offering, before deducting the underwriting discounts and commissions and offering expenses, amount to $6.8 million. Gamer Pakistan expects to use the net proceeds from the offering to build infrastructure, organize and promote esports tournaments in Pakistan, increase staff, acquire one or more eGame developers, build an integration in to Trade Desk for the Sale of Data to Brands, and provide general working capital.
WestPark Capital, Inc. acted as the Lead Underwriter, and R. F. Lafferty the Book-Running Manager for the offering.
A registration statement on Form S-1 relating to the shares of common stock being sold in this offering was filed with the U.S. Securities and Exchange Commission ...