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The latest update is out from Esports Entertainment Group (GMBL).
Esports Entertainment Group, Inc. has entered into a Secured Note Purchase Agreement, issuing a secured promissory note worth approximately $1.42 million, while amending terms for its Series C and D Convertible Preferred Stocks. These modifications, effective immediately, include heightened security for the note, a 10% annual interest rate, a 2026 maturity date, and specific conditions for dividend accrual and stock redemption. The company also confirmed the resignation of director Chul Woong Lim, with no disagreements cited as the cause. These financial maneuvers aim to bolster the company’s capital structure and strategic position in the competitive esports market.
See more insights into GMBL stock on TipRanks’ Stock Analysis page.