Mobile Global eSports, Inc. (MGAM) priced its micro-cap IPO on Thursday night, July 28, 2022, at $4.00 – its assumed IPO price – and sold 1.5 million shares, the number in the prospectus, to raise $6.0 million. The stock is expected to start trading Friday, July 29th, on the NASDAQ.
WestPark Capital was the sole book-runner.
India’s university eSports are in the spotlight with the pricing of this small IPO.
Mobile Global eSports, based in San Clemente, California, is creating a mobile eSports platform to livestream university contests in India and six South Asian countries.
The eSports segment involves videogame competitions on smartphones. Amateur and professional players compete for cash and other prizes.
“The Indian market for esports, and particularly university esports events in India, represent, in management’s opinion, one of the largest and fastest-growing esports markets in the world,” Mobile Global eSports, also known as MOGO, says in the prospectus.
(For more information about this company, please check the IPO Calendar and the IPO Profile found on IPOScoop.com’s website.)
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