Elys Game Technology Announces Closing of $3.0 Million Registered Direct Offering

 

Elys Game Technology, an interactive gaming and sports betting technology company, has announced the closing of the previously announced registered direct offering with a single institutional investor for the purchase and sale of 3,166,227 shares of the Company’s common stock (or common stock equivalents) at a purchase price of $0.9475 per share of common stock (or common stock equivalent) in a registered direct offering.

In addition, in a concurrent private placement, the Company also agreed to issue to the investor warrants to purchase up to 3,166,227 shares of common stock. The warrants have an exercise price of $0.9475 per share, are exercisable six months from the date of issuance, and have a term of five years from the initial exercise date. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds to the Company from this offering were approximately $3.0 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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