Esports Technologies files and sets terms for a $10 million IPO
The Las Vegas, NV-based company plans to raise $10 million by offering 2 million shares at a price range of $4.50 to $5.00, reports this week renaissancecapital.com. At the midpoint of the proposed range, Esports Technologies would command a fully diluted market value of $95 million.
The company operates a licensed online gambling platform, gogawi.com, which is an esports/sportsbook focused on bettors located in Asia and Latin America. The company offers real money betting on esports events and accepts wagers on major esports titles such as Counter-Strike: GO, League of Legends, and Rocket League, as well as professional sports including the NFL and NBA. Esports Technologies has generated extremely limited revenues to date, and currently generates all of its revenue internationally.
Esports Technologies was founded in 2016 and plans to list on the Nasdaq under the symbol EBET.
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