Mobile Global Esports, which is developing an esports platform for university competitions in India and South Asia, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
The San Clemente, CA-based company plans to raise $15 million by offering 2.5 million shares (60% secondary) at $6. At the proposed price, Mobile Global Esports would command a market value of $107 million.
Mobile Global Esports states that it is launching an esports platform initially focused on esports competitions played on mobile devices by university teams and players representing universities located in India and elsewhere in South Asia. The company currently does not have significant revenues or operations.
Mobile Global Esports was founded in 2021 and plans to list on the Nasdaq under the symbol MOGL. WestPark Capital is the sole bookrunner on the deal.
