Brag House announces $15M private placement

Brag House (TBH) announces that it has entered into a securities purchase agreement with twelve accredited investors for a private investment in public equity financing that is expected to result in gross proceeds to the company of approximately $15M, before deducting placement agent fees and offering expenses. Pursuant to the terms of the securities purchase agreement, the company is selling an aggregate of 15,000 shares of its Series B Convertible Preferred Stock convertible into 15,923,567 shares of common stock, at a conversion price of $0.942 per share of Series B Convertible Stock and an aggregate of 15,923,567 warrants to acquire up to 15,923,567 shares of common stock. The purchase price for one unit was $1,000. The warrants issued in the offering are exercisable immediately upon issuance at an exercise price of $0.817 per share and will expire five years from the date of issuance. Revere Securities acted as the sole placement agent for the PIPE financing.