Ebet Stock Price, News & Analysis

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WestPark Capital announced the closure of a registered direct offering for EBET, consisting of 6,372,530 shares of common stock and a concurrent private placement of warrants to purchase an equal number of shares. The offering was priced at $1.02 per share, adhering to Nasdaq rules, yielding gross proceeds of $6.5 million before fees and expenses. This issuance is conducted under an effective shelf registration statement with the SEC, allowing EBET to raise capital for future growth initiatives and strengthen its balance sheet.

EBET, Inc. (NASDAQ:EBET) announced the closing of a registered direct offering of 6,372,530 shares of common stock and a private placement of warrants to purchase an equal number of shares, priced at $1.02 per share, generating gross proceeds of $6.5 million before expenses. The warrants will be exercisable six months post-issuance at the same price, expiring in five and a half years. EBET plans to use the funds for general corporate purposes. The offering was conducted under an effective shelf registration and complies with SEC regulations.

EBET, Inc. (NASDAQ:EBET) announced a registered direct offering of 6,372,530 shares and warrants to purchase an equal number of shares at $1.02 per share, generating approximately $6.5 million in gross proceeds. The offering is expected to close around February 6, 2023, subject to usual conditions. The Warrants will be exercisable after six months and will expire in five and a half years. The offering follows an effective registration statement with the SEC and will be conducted in accordance with securities laws. EBET is focused on growing its innovative wagering products for a global audience, particularly Millennials and Gen-Z.

EBET, Inc. anticipates its largest wagered soccer game yet during the World Cup quarterfinal between England and France on December 10, 2022. The company's brands, Karamba and BetTarget, expect significant betting volumes driven by a large customer base from England. According to Barclays, approximately $1 billion is predicted to be wagered on each quarterfinal match, with total bets reaching up to $2.5 billion on the final. CEO Aaron Speach notes increased betting engagement since the World Cup began, highlighting the match's excitement.

EBET, Inc. (NASDAQ: EBET) has announced a significant partnership with Metagames Marketing Inc. to enhance its sportsbook and casino wagering media presence across Latin America. This agreement will allow EBET to reach approximately 138 million potential customers through 45 national TV networks, 68 radio stations, and 65 movie theaters in 11 countries, including Peru, Ecuador, and Chile. The campaign will integrate EBET's brand, Karamba, into popular shows, aiming to boost traffic and revenue through media placements linked to net gaming revenue.

EBET, Inc. reports significant progress in reducing net loss and improving adjusted EBITDA for the two months ending August 2022. The company achieved a net loss of $3.8 million, a substantial decrease from $9.0 million in Q3. Adjusted EBITDA was approximately breakeven. This turnaround reflects a realignment of resources towards revenue-generating products, cost reductions, and the elimination of non-material contracts. CEO Aaron Speach expressed optimism about scaling profitable products and enhancing shareholder value amidst a challenging business environment.