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EBET Raises $3.5M Via Equity Offering

Benzinga · 06/10/2022 14:21
  • EBET Inc (NASDAQ:EBETentered into securities purchase agreements with institutional and accredited investors to issue 0.97 million shares and warrants to buy up to an aggregate of 0.97 million shares.
  • The private placement, priced at $3.58 per share of common stock and associated warrant, will result in expected gross proceeds of $3.5 million.
  • The warrants will have an exercise price of $5.00 per share of common stock and will be exercisable six months from the closing of the offering for a period of five years from the closing date.
  • The closing of the offering is expected to occur on or before June 15, 2022.
  • Price Action: EBET shares are trading lower by 19.78% at $2.88 on the last check Friday.