Games & Esports Experience Acquisition, a blank check company formed by Brazil's Gamers Club targeting gaming and esports, filed on Monday with the SEC to raise up to $150 million in an initial public offering.
The Los Angeles, CA-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Games & Esports Experience Acquisition would command a market value of $188 million.
The company is led by CEO and Director Ari Segal, the former CEO of esports and gaming company Immortals Gaming Club (IGC), which acquired Brazilian gaming technology subscription platform and community hub Gamers Club in 2018. He is joined by COO and Director Tomi Kovanen, the COO of IGC.
Concurrent with or after the completion of its business combination, Games & Esports Experience Acquisition may also combine with Gamers Club. It will not, however, complete an initial business combination only with Gamers Club. The company plans to target interactive media businesses operating directly within or adjacent to competitive gaming and esports.
Games & Esports Experience Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol GEEXU. J.P. Morgan and William Blair are the joint bookrunners on the deal.
