Newgioco Group, Inc. (NASDAQ:NWGI), a global sports betting and interactive gaming technology company providing a unique fully integrated, omni-channel sports betting technology, has announced the pricing of its underwritten public offering of 4,166,666 units to the public at $2.40 per unit.
Each unit issued in the offering consists of one share of common stock and one warrant to purchase one share of common stock. The shares of common stock and warrants are immediately separable from the units and will be issued separately.
Newgioco expects to receive gross proceeds of $10.0 million from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses.
The warrants are immediately exercisable for one share of common stock at an exercise price of $2.50 per share and will expire five years from issuance. The offering is expected to close on August 17, 2020, subject to customary closing conditions.
Maxim Group LLC is acting as sole book-running manager for the offering. The company has granted the underwriters a 45-day option to purchase up to 624,999 additional shares of common stock and/or additional warrants to purchase 624,999 shares of common stock, or any combination thereof, at the public offering price to cover over-allotments, if any.
Newgioco is a global leisure gaming technology company operating in 12 countries worldwide, with fully licensed online and land-based gaming operations in Italy. The company’s innovative alternative wagering system services online operators, resort concept casinos, retail neighborhood betting establishments and franchise distribution networks.
The group offers its clients a full suite of leisure gaming products and services, such as sports betting, esports, virtual sports, online casino, poker, bingo, interactive games and slots.
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