{"id":2041,"date":"2021-12-08T14:32:42","date_gmt":"2021-12-08T14:32:42","guid":{"rendered":"https:\/\/esportsnewsnetwork.net\/?p=2041"},"modified":"2021-12-08T14:32:42","modified_gmt":"2021-12-08T14:32:42","slug":"games-esports-experience-acquisition-corp-closes-nasdaq-offering","status":"publish","type":"post","link":"https:\/\/esportsnewsnetwork.net\/?p=2041","title":{"rendered":"Games & Esports Experience Acquisition Corp closes NASDAQ offering"},"content":{"rendered":"

Blank check company <\/span>Games & Esports Experience Acquisition Corp. (GEEX)\u00a0has closed its public offering of 20m units listed on NASDAQ.\u00a0<\/span><\/span><\/p>\n

According to the release, the closure resulted in an upsized $200m (~\u00a3151m) initial public offering.\u00a0<\/span><\/span><\/p>\n

Image credit: Games & Esports Experience Acquisition Corp.<\/p>\n

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GEEX was co-founded in 2021 by Immortals Gaming Club\u2019s CEO and Managing Director, <\/span>Ari Segal and <\/span>Tomi Kovanen, respectively.\u00a0 <\/span><\/span>The firm, which is also referred to as a special purpose acquisition company (SPAC), began trading on December 2nd under the name GEEXU.\u00a0<\/span><\/p>\n

At a price of $10 (~\u00a37.56) per unit, each stock consists of one Class A ordinary GEEX share and one-half of one redeemable warrant. Each whole warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 (~\u00a38.69) per share.<\/span><\/p>\n

GEEX was formed to carry out a variety of business operations such as share exchanges and purchases, mergers, acquisitions and reorganisations.\u00a0<\/span><\/p>\n

The blank check company intends to focus its operations on esports and gaming sectors, or within industries with similar user characteristics or demographics. This includes ecommerce, content, sports, entertainment and social media.<\/span><\/p>\n

<\/span><\/p>\n

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As its next step, GEEX also proclaimed its intention to merge with Gamers Club Holdings, a Brazilian gaming subscription platform owned by Immortals Gaming Club. However, t<\/span>he company will not reportedly complete an \u2018initial business combination\u2019 Gamers Club only.<\/span><\/p>\n

Esports Insider says: According to its website, GEEX was formed to solve fundamental ecosystem problems in the esports industry and<\/span> improve the user experience in competitive gaming. It will be interesting to see what the company\u2019s next steps towards this goal will be once it secures enough investments.\u00a0<\/p>\n

Sign up to our ESI Dispatch Newsletter<\/span><\/a><\/p>","protected":false},"excerpt":{"rendered":"

Blank check company Games & Esports Experience Acquisition Corp. (GEEX)\u00a0has closed its public offering of 20m units listed on NASDAQ.\u00a0 According to the release, the […]<\/a><\/p>\n<\/div>","protected":false},"author":0,"featured_media":2042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[3],"tags":[],"class_list":["post-2041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t