tiprankstipranks
Allied Gaming’s Share Sale and Settlement with BPR Cumulus
Company Announcements

Allied Gaming’s Share Sale and Settlement with BPR Cumulus

Don't Miss our Black Friday Offers:

An announcement from Allied Gaming & Entertainment ( (AGAE) ) is now available.

Allied Gaming and Entertainment, Inc. sold over 750,000 shares to BPR Cumulus LLC, an affiliate of Brookfield Property Partners, for $5 million, initially intended for developing esports venues in shopping malls. However, the COVID-19 pandemic altered the business landscape, making the original plans unfeasible. Consequently, the two parties reached a Settlement Agreement, effectively terminating their prior Share Purchase Agreement and agreeing to split the escrowed funds—$3 million to the Investor and $2 million to the Company—while releasing each other from future obligations related to the deal.

Find detailed analytics on AGAE stock on TipRanks’ Stock Analysis page.

Related Articles
TheFlyAllied Gaming & Entertainment issues statement regarding derivative lawsuit
TipRanks Auto-Generated NewsdeskAllied Gaming & Entertainment Reports Revenue Growth Amid Challenges
TheFlyAllied Gaming & Entertainment files to sell 6M shares of common stock for holder
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App