HENDERSON, Nev., Sept. 28, 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 pricing of its initial public offering of 1,700,000 shares at a public offering price per share of $4.00.
All shares are being offered by Gamer Pakistan. In addition, Gamer Pakistan has granted the underwriters a 45-day option to purchase an additional 255,000 shares of its common stock at the initial public offering price, less the underwriting discounts and commissions.
In connection with the offering, the Company's common stock has been approved for listing on the Nasdaq Capital Market. The shares are expected to begin trading on the Nasdaq Capital Market on September 29, 2023, under the ticker symbol "GPAK". The offering is expected to close on October 3, 2023 subject to customary closing conditions.
The gross proceeds to Gamer Pakistan from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $6,800,000 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 ...