? Public Offering
Santa Monica-based esports platform Super League Gaming (NASDAQ:SLGG) expects to gather $8.4m from its underwritten Public Offering of 4.54m common stock shares at a price of $1.85 each
The company plans to spend raised money for marketing, product development and CAPEX
The offering is expected to close on August 31, 2020
Super League has also offered its underwriter, National Securities Corporation, a 30-day option to purchase up to 681k additional shares of common stock for $1.85 per share to cover over-allotments
Over the first half of 2020, Super League had $0.6m revenue and $9.7m of net loss. The company has $6.2m cash and $1.2m long-term notes payable as of June 30,2020
? Products
Super League Gaming is an esports platform, that allows gamers, to play with their friends, watch live broadcasts and esports highlights, as well as to compete in various events and tournaments, regardless of their skills and experience
The company’s business model is presented by the monetization of
audience — advertising, brand sponsorships and 3rd party content licensing
consumers — selling digital in-game goods, tournament fees and subscriptions
content & broadcast — work for hire production for esports, end-to-end broadcast via licensable platform
Currently, there are 24 gaming clubs, with players across Canada, Mexico and the United States, registered on the platform spread
Since the first half of the year, Super League has demonstrated:
5 million hours of engagement per month (+300% vs 2019)
1 billion views (+700% vs 2019)
2 million registered users (+100% vs 2019)
The platform has partnerships with many entertainment industry giants, such as Sony Pictures, Netflix, Twitch, Youtube, Instagram, Nickelodeon, as well as games like PUBG, Fortnite, Minecraft, League of Legends, Clash Royale and more
SOURCES: IR.SUPERLEAGUE, ESPORTSOBSERVER
