Allied Esports Entertainment has commenced an underwritten public offering of its common stock.
Allied Esports Entertainment (NASDAQ:AESE) has commenced an underwritten public offering of its common stock.
As quoted in the press release:
The shares are being offered by Allied Esports and certain selling stockholders. In addition, Allied Esports expects to grant the underwriters a 30-day option to purchase additional shares of its common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Allied Esports intends to use the net proceeds from the proposed offering to fund general corporate activities and working capital requirements. Allied Esports will not receive any proceeds from the sale of common stock by the selling stockholders in the proposed offering.