One of the most renowned global esports betting product and technology providers, Esports Technologies, Inc. (Nasdaq: EBET) has announced that it will offer 2,400,000 million shares of its common stock at a price of $6.00 per share.
The offering is expected to raise around $14,400,000 of proceeds which will be invested into EBET.
The stock is expected to go live on the Nasdaq for trading today (April 15) and it is expected to close on April 19, subject to the usual closing conditions.
Boustead Securities, LLC are the underwriters for the offering.
Who Are Esports Technologies, Inc.?
Based in Las Vegas, Esports Technologies are an online gaming operator that focuses on esports and competitive gaming events. The firms’ products are used by a number of esports betting sites across the world, and the company can accept wagers in 149 different jurisdictions.
It offers a wide selection of esports odds on many popular esports titles, such as CSGO, League of Legends, Dota 2, StarCraft 2, Rocket League, FIFA, Warcraft 3, and Rainbow Six betting and more.
It also has links to a number of professional sports associations in the United States, such as the NBA, MLB, and NFL.
Back in March, the company announced that it was set to relaunch its site Gogawi.com, a betting site that is available in over 140 different countries around the world.
The new bespoke esports betting site featured a host of improvements over the original which included expanded odds, enhanced promotional offers, and an improved selection of payment options for customers.
These expanded payment options came chiefly through a partnership with ApcoPay, which aims to speed up and expand payment options for online customers around the world.
Esports Stock Value Continues To Be Attractive To Investors
The news that Esports Technologies Inc. were going to float on the Nasdaq is just the latest in a number of esports-linked businesses and tech companies that have been publicly floated of late.
Investing in esports stock has really become an area of real interest for investors around the globe and they have thronged to buy stocks in companies such as Activision Blizzard, Tencent Holdings, Take-Two Interactive, and Huya.
Other companies such as Esports betting site Luckbox have also started trading recently on the TSX Venture Exchange.
What has been particularly notable from an investors’ or potential investor’s perspective is that many of these flotations on the stock market have been oversubscribed, with people clamouring to invest in companies.
It is not difficult to see why with current projections predicting the boom in interest in esports is set to continue for many years yet. Price Waterhouse Cooper even commented back in late 2020 that esports has a higher growth potential than any other sport.
While the Covid-19 pandemic may have accelerated growth in esports, there are many experts that believe that we are very likely to see more companies like Esports Technologies Inc. follow their lead in becoming publicly traded and that is only good news for individuals that want to invest in the top esports companies in the world today.