Esports Technologies, which operates an online gambling platform focused on esports and competitive gaming, raised $14 million by offering 2.4 million shares at $6, the high end of the upwardly revised range of $5 to $6. The company offered 0.4 million more shares than anticipated. It originally planned to offer 2 million shares at $4.50 to $5, before increasing the range on Monday.
Esports Technologies develops and operates platforms focused on esports and competitive gaming. It operates a licensed online gambling platform, gogawi.com, which is an esports/sportsbook focused on bettors located in Asia and Latin America. The company offers real money betting on esports events and accepts wagers on major esports titles such as Counter-Strike: GO, League of Legends, and Rocket League, as well as professional sports including the NFL and NBA. Esports Technologies has generated extremely limited revenues to date, and currently generates all of its revenue internationally.
Esports Technologies plans to list on the Nasdaq under the symbol EBET. Boustead Securities acted as a lead manager on the deal.
