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Investing.com -- GameSquare Holdings Inc (NASDAQ:GAME) stock tumbled 14.5% on Monday after the gaming and creator entertainment media company announced plans for an underwritten public offering of common stock and common stock equivalents.
The company said the offering is subject to market conditions, with no assurance regarding its completion, size, or terms. Lucid (NASDAQ:LCID) Capital Markets will serve as the sole book-running manager for the offering.
GameSquare is conducting the offering under a shelf registration statement filed with the Securities and Exchange Commission (SEC) on March 4, 2025, which became effective on June 4, 2025. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and made available on the agency’s website.
The announcement of the public offering appears to have triggered a negative market reaction, as new share issuances typically dilute existing shareholders’ ownership stakes.
GameSquare operates what it describes as one of the largest gaming media networks in North America, according to Comscore verification. The company provides marketing and creative services, data and analytics solutions, and production services through its GameSquare Experiences teams.
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