Esports Technologies experiencing swings on stock market
Mixed results on first two days of trading on Nasdaq.
Esports Technologies, Inc., a global provider of esports wagering products and technology, saw its common stock commence trading on the Nasdaq Capital Market Thursday.
In less than 24 hours, the company has already gotten a taste of life as a publicly traded entity – and the whipsaw swings of the market.
Under the ticker symbol EBET, the company’s shares on Thursday opened at $21.00 and closed at $36.42.
As of 12:30 p.m. Eastern Time Friday, the stock price had given up nearly $10 per share, falling to $26.75.
On April 14, the company priced its initial public offering of 2.4m common shares at a public price of $6 per share. The company said its gross proceeds were $14.4m, before underwriting discounts, commissions and other expenses.
Boustead Securities, LLC acted as the sole underwriter for the firm commitment offering, which is being made only by a prospectus.
Esports Technologies offers real money betting on esports events around the world. It accepts wagers on major esports titles including: Counter-Strike: GO, League of Legends, Dota 2, StarCraft 2, Rocket League, Rainbow Six, Warcraft 3, King of Glory and FIFA; as well as professional sports including the National Football League, National Basketball Association, Major League Baseball, soccer and more.
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