Esports Technologies Inc, an esports and competitive gaming platform developer, has filed Amendment No 1 to Form S-1 Registration Statement April 12, 2021 with the U.S. Securities and Exchange Commission to raise the proposed IPO price range to $5 to $6, previously the proposed price range was $4.50 to $5.
The company plans to raise $11 million by offering 2 million shares. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $110 million.
The company operates a licensed online gambling platform, gogawi.com, which is an esports/sportsbook focused on bettors located in Asia and Latin America. They offer real money betting on esports events from around the world in a secure environment.
The Las Vegas, NV-based company was founded in 2016 and plans to list on the Nasdaq Capital Market under the symbol “EBET.” Boustead Securities are underwriters of the IPO. The company engages Schiff Hardin LLP as US Securities Counsel, and PWR CPA, LLP as Independent Auditor.
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