Attached files
EXHIBIT 99.1
SUPER LEAGUE GAMING, INC. PRICES AT-THE-MARKET $6,387,500 COMMON
STOCK OFFERING
SANTA MONICA, CA, May 13, 2020 – SUPER LEAGUE GAMING, INC.
(NASDAQ: SLGG) (“Super League Gaming” or the
“Company”), a global leader in competitive video gaming
and esports entertainment for everyday players around the world,
today announced it has entered into securities purchase
agreements with institutional investors for the purchase and sale
of 1,825,000 shares of common stock, par value $0.001 per share at
an offering price of $3.50 per share, pursuant to a registered
direct offering, priced at-the-market under Nasdaq rules. The gross
proceeds of the offering will be approximately $6,387,500
before deducting fees and other estimated offering expenses. The
closing of the registered direct offering is expected to take place
on or about May 15, 2020, subject to the satisfaction of customary
closing conditions.
A.G.P./Alliance
Global Partners is acting as sole placement agent for the
offering.
This
offering is being made pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-237626) previously filed
with the U.S. Securities and Exchange Commission (the
“SEC”). This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction. A prospectus supplement relating to the
shares of common stock will be filed by Super League Gaming with
the SEC. When available, copies of the prospectus supplement,
together with the accompanying prospectus, can be obtained at the
SEC's website at www.sec.gov or from A.G.P./Alliance Global
Partners, 590 Madison Avenue, 36th Floor, New York, New York 10022
or by email at prospectus@allianceg.com.
About Super League Gaming, Inc.
Super
League Gaming, Inc. (SLGG) is a leading esports community and
content platform for competitive, everyday gamers, fans and friends
of all ages and skill levels. With a focus on positive and
inclusive gameplay, Super League enables players to experience
their sport like the pros while also developing sportsmanship,
communication and team-building skills. Powered by a proprietary
technology platform, Super League operates physical and digital
experiences in partnership with publishers of top-tier games. Local
movie theatres, PC cafes, restaurant and entertainment venues are
transformed into esports arenas where gamers compete, socialize,
spectate and celebrate the amateur esports lifestyle. Super
League’s platform offers unique amateur esports experiences
that not only ratchet up the competition for avid gamers, but also
attract audiences with elite amateur broadcasts that transform
physical venues as well as fuel SuperLeagueTV’s Twitch and
YouTube channels.
Forward-Looking Statements
Safe
Harbor Statement under the Private Securities Litigation Reform Act
of 1995. Statements in this press release that are not strictly
historical are “forward-looking” statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These statements involve substantial risks, uncertainties and
assumptions that could cause actual results to differ materially
from those expressed or implied by such statements. Forward-looking
statements in this communication include, among other things,
statements about our possible or assumed business strategies,
potential growth opportunities, new products and potential market
opportunities. Risks and uncertainties include, among other things,
our ability to implement our plans, forecasts and other
expectations with respect our business; our ability to realize the
anticipated benefits of events that took place during and
subsequent to the quarter ended March 31, 2020, including the
possibility that the expected benefits will not be realized or will
not be realized within the expected time period; unknown
liabilities that may or may not be within our control; attracting
new customers and maintaining and expanding our existing customer
base; our ability to scale and update our platform to respond to
customers’ needs and rapid technological change; increased
competition on our market and our ability to compete effectively,
and expansion of our operations and increased adoption of our
platform internationally. Additional risks and uncertainties that
could affect our financial results are included in the section
titled “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in our Annual Report on Form 10-K for the year
ended December 31, 2019 and other filings that we make from time to
time with the Securities and Exchange Commission which, once filed,
are available on the SEC’s website at www.sec.gov. In
addition, any forward-looking statements contained in this
communication are based on assumptions that we believe to be
reasonable as of this date. Except as required by law, we assume no
obligation to update these forward-looking statements, or to update
the reasons if actual results differ materially from those
anticipated in the forward-looking statements.
Media Contact:
Gillian
Sheldon
Super
League Gaming
gillian.sheldon@superleague.com
Investor Relations:
Sean
McGowan and Cody Slach
Gateway
Investor Relations
SLG@gatewayir.com