Brag House enters $15M private placement with institutional investor

Brag House (TBH) entered into a securities purchase agreement with an institutional investor for a private investment in public equity financing that is expected to result in $15M. The company intends to use the net proceeds from the offering for general corporate purposes. Brag House selling an aggregate of 15,000 shares of its series B convertible preferred stock convertible into 15.92M shares of common stock, at a conversion price of 94c per share. 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 81.7c per share and will expire five years from the date of issuance. Revere Securities acted as the sole placement agent for the PIPE financing.