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EBET, Inc. - $EBET STOCK NEWS

Welcome to our dedicated page for EBET news (Ticker: $EBET), a resource for investors and traders seeking the latest updates and insights on EBET stock.

EBET Inc. (NASDAQ:EBET) is a global leader in online casino and sportsbook operations, dedicated to providing top-notch i-gaming wagering products for bettors worldwide. The company focuses on delivering innovative gaming experiences that cater specifically to the Millennial and Gen-Z demographics.

EBET operates several renowned online brands including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, GenerationVIP, and Gogawi. These brands are active in over 15 countries and collectively boast over 1.4 million deposited customers. The company has received multiple prestigious awards, such as the Esport Product of the Year at the 2021 SiGMA Europe and the 2022 SiGMA Asia and SiGMA Americas Awards. Additionally, Karamba, one of EBET's brands, has been recognized for its innovation in Casino & Gaming Entertainment and named Online Casino of the Year at the 2022 SiGMA Americas Awards.

Recently, EBET has undertaken several strategic initiatives to maximize shareholder value. On July 26, 2023, the Board of Directors appointed a Strategic Alternatives Committee to explore various strategic options, including potential mergers, sales, or other transactions. Houlihan Lokey has been retained as the exclusive financial advisor for this process.

In a significant financial maneuver, EBET announced a 1-for-30 reverse stock split effective from October 2, 2023. This move reduced the number of outstanding shares from approximately 448.2 million to about 14.9 million, while maintaining the authorized shares at 500 million. This consolidation aims to enhance the per-share value and streamline the capital structure.

Furthermore, EBET has amended its $30,000,000 Term Loan and increased its Revolving Loan capacity from $2,000,000 to $4,000,000. The amendments also allow the company to defer over $339,000 of monthly cash interest payments through June 2025. However, despite these efforts, EBET's stock has been suspended from trading on the Nasdaq Capital Market as of October 13, 2023, and will now be quoted on the Pink Sheets platform.

For more details, visit EBET's official website.

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EBET to cease trading on Nasdaq
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EBET extends forbearance period to June 2025, deferring over $339,000 of monthly cash interest payments. Revolving loan capacity increased to $4,000,000. Interest rate raised to 16.5%. Loan amounts may be converted into EBET common shares at CPBF's option.
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EBET, Inc. announces a 1-for-30 reverse stock split of its common stock, reducing outstanding shares from 448.2 million to 14.9 million.
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EBET initiates strategic review to maximize value
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FAQ

What does EBET Inc. do?

EBET Inc. operates and develops online casino and sportsbook brands, providing advanced wagering products to bettors worldwide.

What are some of EBET's brands?

EBET operates brands such as Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, GenerationVIP, and Gogawi.

Has EBET won any awards?

Yes, EBET has won multiple awards, including Esport Product of the Year at the 2021 SiGMA Europe and 2022 SiGMA Asia and Americas Awards. Karamba, one of its brands, received the SBC award for Innovation in Casino & Gaming Entertainment.

What recent strategic steps has EBET taken?

EBET has initiated a review of strategic alternatives, including potential mergers or sales, and has also performed a 1-for-30 reverse stock split to streamline its capital structure.

Who is assisting EBET with its strategic review?

Houlihan Lokey has been retained as EBET's exclusive financial advisor to assist with the strategic review process.

What are the details of EBET's recent reverse stock split?

On October 2, 2023, EBET performed a 1-for-30 reverse stock split, reducing the number of outstanding shares from approximately 448.2 million to about 14.9 million.

What changes were made to EBET's loan agreements?

EBET increased its Revolving Loan capacity from $2,000,000 to $4,000,000 and deferred over $339,000 of monthly cash interest payments through June 2025.

Where can I find more information about EBET?

You can find more information on EBET's official website: https://ebet.gg/.

What happened to EBET's Nasdaq listing?

EBET's stock has been suspended from trading on the Nasdaq Capital Market as of October 13, 2023, and is now quoted on the Pink Sheets platform.

What is EBET's focus demographic?

EBET focuses on providing i-gaming products to the Millennial and Gen-Z demographics.

EBET, Inc.

Nasdaq:EBET

EBET Rankings

EBET Stock Data

3.56M
14.96M
0.14%
0%
3.55%
Casinos (except Casino Hotels)
Arts, Entertainment, and Recreation
Link
United States of America
Las Vegas