Snail enters at-the-market offering agreement for up to $4.5 million

CULVER CITY, Calif. - Snail, Inc. (NASDAQ:SNAL), a developer and publisher of interactive digital entertainment, announced Thursday it has entered into an At The Market Offering Agreement with H.C. Wainwright & Co. to sell shares of its Class A Common Stock.

The offering allows Snail to sell shares with an aggregate offering price of up to $4.5 million, according to a press release statement from the company.

Snail intends to use the net proceeds primarily to support its digital asset initiative, which includes evaluating the feasibility of introducing a proprietary stablecoin backed by U.S. dollars. Some proceeds would serve as reserve assets for the stablecoins the company plans to issue.

The sales will be conducted as an at-the-market offering as defined in Rule 415(a)(4) under the Securities Act of 1933, with shares sold directly on or through the Nasdaq Capital Market or any other existing trading market for the company’s Class A Common Stock.

The offering will be made through a prospectus supplement filed with the Securities and Exchange Commission on August 7, 2025, which forms part of Snail’s shelf registration statement on Form S-3 that became effective on September 20, 2024.

Snail, which trades on the Nasdaq under the ticker SNAL at $1.02 per share, describes itself as a global independent developer and publisher of interactive digital entertainment with a portfolio of premium games for consoles, PCs, and mobile devices. InvestingPro analysis reveals the company is trading at attractive revenue multiples, with additional insights available in the comprehensive Pro Research Report covering 1,400+ top stocks.

In other recent news, Snail Inc. reported a substantial revenue increase for Q1 2025, with a 42.5% year-over-year growth to $20.1 million. Despite this revenue surge, the company recorded a net loss of $1.9 million, slightly higher than the $1.8 million loss in the same quarter last year. In addition to its financial results, Snail Inc. announced it is exploring the development of a proprietary stablecoin as part of a strategic digital asset initiative. This potential move into the blockchain space is still in the exploratory phase, with decisions pending on regulatory approvals, market conditions, and technical feasibility. The company believes this exploration could position it as an early adopter of blockchain technology in the digital entertainment industry. Analysts and investors are closely watching these developments, as they could significantly impact Snail Inc.’s strategic direction.

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