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NEW YORK - Brag House Holdings, Inc. (NASDAQ:TBH), a Gen Z engagement platform with a current market capitalization of $11.4 million, announced Wednesday it has closed its previously announced private investment in public equity (PIPE) financing, raising approximately $15 million in gross proceeds. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, and its current ratio of 1.69 indicates strong short-term liquidity.
The Gen Z engagement platform, which operates in gaming, college sports, and digital media, sold 15,000 shares of Series B Convertible Preferred Stock convertible into 15,923,567 shares of common stock at a conversion price of $0.942 per share. The offering also included warrants to purchase up to 15,923,567 shares of common stock. The stock has experienced significant volatility, trading between $0.52 and $6.96 over the past 52 weeks, with InvestingPro analysis suggesting the stock is currently fairly valued.
Each unit, priced at $1,000, consisted of one share of Series B Convertible Preferred Stock convertible into approximately 1,061 shares and an equal number of warrants. The warrants are exercisable immediately at $0.817 per share and will expire in five years.
Revere Securities LLC served as the sole placement agent for the transaction.
The company intends to use the net proceeds, after deducting placement agent fees and offering expenses, for general corporate purposes including working capital.
The securities sold in this private placement were not registered under the Securities Act of 1933 and were offered only to accredited investors. Brag House has agreed to file registration statements with the SEC covering the resale of shares issuable upon conversion of the preferred stock and exercise of the warrants.
According to the press release statement, Brag House focuses on transforming casual college gaming into a community-driven experience by combining gaming, social interaction, and technology to connect brands with Gen Z audiences. InvestingPro analysts project substantial revenue growth for the current fiscal year, with a forecast growth rate of over 1,400%. Subscribers can access 11 additional ProTips and detailed financial metrics to better understand the company’s growth trajectory.
In other recent news, Brag House Holdings, Inc. announced it has secured approximately $15 million in private investment in public equity financing. This agreement involves the sale of 15,000 shares of Series B Convertible Preferred Stock, convertible into over 15 million shares of common stock, along with warrants for additional shares. Additionally, the company revealed plans to launch a digital asset platform tailored for college athletes as part of its Name, Image, and Likeness initiative. This platform will enable athletes to create and sell personalized digital assets, with Brag House earning revenue from transaction fees and royalties. Furthermore, Brag House Holdings’ board of directors approved the issuance of stock options to several executives and directors. These options, granted under the company’s 2024 Omnibus Incentive Plan, include significant allocations to Lavell Juan Malloy II and Daniel Leibovich. These developments reflect Brag House’s strategic moves to enhance its financial position and expand its offerings in the digital space.
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