GameSquare Holdings, Inc. announced the completion of its underwritten public offering, raising approximately $70 million in gross proceeds. The offering involved the sale of 46,666,667 shares of common stock at a price of $1.50 per share.
The company also granted the underwriter a 45-day option to purchase up to an additional 7,000,000 shares, which, if fully exercised, would bring the total raise to approximately $80.5 million. Combined with a previous $9.2 million raise, total gross proceeds across both offerings exceed $90 million.
GameSquare intends to use most of the offering proceeds to significantly increase its Ethereum (ETH) position, supporting its strategic alliance with Dialectic. This substantial capital infusion is expected to accelerate the company's ambitious Ethereum treasury strategy, targeting 8% to 14% on-chain yields and potential ETH appreciation to generate millions in annual incremental revenue.
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