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NEW YORK - Brag House Holdings, Inc. (NASDAQ:TBH), a Gen Z engagement platform focused on gaming and college sports with a current market capitalization of $13 million, announced Thursday it has secured approximately $15 million in a private investment in public equity (PIPE) financing. The company’s stock has shown significant momentum, gaining over 63% in the past week, according to InvestingPro data.
According to the company’s press release statement, the financing agreement involves selling 15,000 shares of Series B Convertible Preferred Stock, which can be converted into 15,923,567 shares of common stock at a conversion price of $0.942 per share. The deal also includes warrants to acquire up to 15,923,567 additional shares. InvestingPro analysis shows the company maintains a healthy current ratio of 1.69, with liquid assets exceeding short-term obligations.
Each unit in the offering, priced at $1,000, consists of one share of Series B Convertible Preferred Stock and 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 securities being offered have not been registered under the Securities Act of 1933 and were only available to accredited investors.
Brag House intends to use the proceeds for general corporate purposes and working capital. The company has committed to filing registration statements with the SEC covering the resale of shares issuable upon conversion of the preferred stock and exercise of the warrants.
Brag House Holdings operates at the intersection of gaming, college sports, and digital media, focusing on transforming casual college gaming into community-driven experiences. While currently unprofitable, analysts anticipate significant sales growth this year, with InvestingPro offering 14 additional key insights about the company’s future prospects and financial health.
In other recent news, Brag House Holdings announced plans to launch a digital asset platform aimed at college athletes. This initiative is part of their Name, Image, and Likeness (NIL) program, allowing athletes to create and sell personalized digital assets like highlight reels and game-day passes. The company plans to generate revenue through transaction fees and royalties from these sales. Additionally, Brag House Holdings has granted stock options to several executives and directors. Lavell Juan Malloy II and Daniel Leibovich each received 223,556 stock options, while Chetan Jindal was granted 50,000 options. These options were issued under the company’s 2024 Omnibus Incentive Plan.
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