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SANTA MONICA, Calif. - Super League Enterprise, Inc. (NASDAQ: SLE), known for integrating brands with consumers through playable media, disclosed a registered direct offering with an institutional investor. The transaction includes the sale of roughly $670,000 in Common Stock and Pre-funded Warrants, expected to close by June 2, 2025. The company, currently valued at $4.1 million in market capitalization, has seen its stock decline by approximately 75% year-to-date, according to InvestingPro data.
The offering encompasses 5,583,334 shares of Common Stock or equivalent Pre-Funded Units. Each share of Common Stock is priced at $0.12, while Pre-Funded Warrants are offered at $0.11999, just a fraction below the Common Stock price due to an exercise price of $0.00001 per warrant. These Pre-Funded Warrants are immediately exercisable until fully utilized. The sale of each Pre-Funded Warrant will correspondingly reduce the number of Common Stock shares available. InvestingPro analysis reveals concerning financial health indicators, with a weak overall financial health score of 1.52 out of 5 and a current ratio of 0.33, suggesting potential liquidity challenges.
Super League aims to allocate the anticipated $670,000 gross proceeds towards general corporate needs and working capital, supplementing its existing funds. Aegis Capital Corp. is the exclusive placement agent for the offering, while Disclosure Law Group and Kaufman & Canoles, P.C. serve as legal counsel to Super League and Aegis Capital Corp., respectively.
This financial move follows the company’s effective shelf registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on December 20, 2024. A final prospectus supplement and accompanying prospectus will be filed with the SEC, available on their website.
Super League is recognized for creating engaging advertising and content through mobile games and gaming platforms, utilizing proprietary technology, a development studio, and a network of creators. The company’s offerings are designed to elevate brand presence and consumer engagement in a competitive market.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and the sale will not occur in jurisdictions where such an offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of such state or jurisdiction. The information is based on a press release statement.
In other recent news, Super League Enterprise, Inc. has completed a public offering, raising approximately $550,000 in gross proceeds from the sale of 4,583,332 shares of common stock at $0.12 each. The funds are intended for general corporate purposes, working capital, and partial debt repayment. In another development, Super League has sold its Minecraft property, InPVP, to Mineville LLC, aligning with its strategy to focus on core business operations. This sale allows Super League to become Mineville’s exclusive partner for brand partnerships and advertising sales, reaching over 8 million monthly active users. Additionally, Super League announced the pricing of another public offering at $0.17 per share, expecting to raise about $869,999, with the potential to reach $1 million if the underwriter’s option is fully exercised. Furthermore, Super League faces a compliance challenge with Nasdaq, having been notified that its stockholders’ equity has fallen below the required $2.5 million threshold. The company has 45 days to submit a compliance plan to Nasdaq, which could grant them up to 180 days to regain compliance. Super League has expressed its commitment to addressing this issue to maintain its Nasdaq listing.
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