Mobile Global Esports, which is developing an esports platform for university competitions in India and South Asia, raised $6 million by offering 1.5 million shares at $4, the low end of the revised $4 to $5 range. It previously filed to offer 1.0 million shares at a range of $6.00 to $6.75 in May, before revising its IPO terms last week.
Concurrently, selling shareholders have registered 2.3 million shares, which may be offered and sold from time to time after the company's shares have begun trading on the Nasdaq.
Mobile Global Esports is headquartered in San Clemente, CA, with an operating subsidiary in Mumbai, India. It plans to list on the Nasdaq under the symbol MGAM. WestPark Capital acted as sole bookrunner on the deal.
