Games & Esports Experience Acquisition, a blank check company formed by Brazil's Gamers Club targeting gaming and esports, raised $175 million by offering 17.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol GEEXU. J.P. Morgan and William Blair acted as joint bookrunners on the deal.
