Super League Gaming, Inc. Announces Pricing of Initial Public Offering
SANTA MONICA, Calif., Feb. 26, 2019 (GLOBE NEWSWIRE) — Super League Gaming, Inc. (the “Company”), a leading amateur esports community and content platform, announced today the pricing of its initial public offering of 2,272,727 shares of its common stock at a public offering price of $11.00 per share. The shares are expected to begin trading on the Nasdaq Capital Market on February 26, 2019 under the symbol “SLGG.” All of the shares are being offered by the Company. In addition, the Company has offered the underwriters a 30-day option to purchase from the Company up to an additional 340,909 shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments, if any. The initial public offering is expected to close on February 28, 2019, subject to customary closing conditions.
The Company expects to use the net proceeds from the offering for working capital and general corporate purposes, including sales and marketing activities, product development and capital expenditures.
Northland Securities, Inc. and Lake Street Capital Markets, LLC are acting as the joint book-running managers and National Securities Corporation is acting as the co-manager for the initial public offering.
A registration statement relating to these securities has been filed with and was declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is being made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering may be obtained, when available, by contacting Northland Securities Inc., Attention: Heidi Fletcher, 150 South Fifth Street, Suite 3300, Minneapolis, MN 55402, email [email protected] or telephone (612) 851-4918 or Lake Street Capital Markets, LLC, Attention: Syndicate Dept., 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, email [email protected] or telephone (612) 326-1305.
About Super League
Super League is a preeminent and unifying community for amateur esports players. Through premium in-person and digital events and leagues featuring top-tier games such as League of Legends, Minecraft and Clash Royale, Super League provides competitive video gamers with opportunities to experience their sport like the pros within a social environment that fosters positive communication, good sportsmanship and teamwork. Super League’s proprietary technology platform transforms local movie theaters, PC cafes and restaurant and retail venues into esports arenas, facilitating critical components of successful competitions such as player match-making, tournament operations, data visualization, and local and national live broadcasts, all across a wide variety of competitive formats.
Forward-Looking Statements
This press release contains forward-looking statements, including the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
Investor Relations:
Sean McGowan and Cody Slach
Liolios
949-574-3860
[email protected]
