on GameSquare Holdings, Inc. (NASDAQ:GAME)
GameSquare Secures $20 Million Financing with Yorkville Advisors
GameSquare Holdings, Inc. (NASDAQ:GAME) announced a $20 million pre-paid advance agreement with Yorkville Advisors Global L.P. The agreement includes an initial $6.5 million advance as a convertible debenture with a fixed conversion price of $1.375 and 0% interest. Yorkville agrees not to short the stock while the agreement is in place.
The company plans to use the funds to repay the $5.7 million balance on its senior secured convertible note with King Street Partners LLC. CEO Justin Kenna emphasizes that this move strengthens the company's financial position, allowing it to support growth strategies amidst increasing demand trends globally.
This follows recent sales of non-core assets, raising over $36 million in non-dilutive capital. Northland Capital Markets served as the sole placement agent for the transaction.
R. E.
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