Games & Esports Experience Acquisition Corp. Announces Closing of Upsized $200 Million Initial Public Offering
Games & Esports Experience Acquisition Corp. announced the closing of its upsized initial public offering (IPO) of 20 million units at $10.00 each, raising $200 million. The IPO commenced trading on Nasdaq under the ticker symbol 'GEEXU' on December 2, 2021. Each unit contains one Class A ordinary share and half a redeemable warrant, with whole warrants exercisable at $11.50 per share. The Company aims to merge with Gamers Club Holdings, a Brazilian gaming technology platform, as part of its strategy to target interactive media and esports sectors.
- Successfully raised $200 million through an upsized IPO.
- Plans to merge with Gamers Club Holdings, enhancing its position in the gaming and esports market.
- None.
LOS ANGELES, Dec. 7, 2021 /PRNewswire/ -- Games & Esports Experience Acquisition Corp. (the "Company") announced today that it has closed its upsized initial public offering ("IPO") of 20,000,000 units at a price of
The Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business, industry, sector or geographical location, it intends to focus its search on target businesses in interactive media, operating directly within or adjacent to competitive gaming and esports sectors or in industries with similar user characteristics or demographics including, but not limited to, ecommerce, media, content and other intellectual property, sports & entertainment, and social media. Concurrently with the initial business combination, the Company currently plans to merge with Gamers Club Holdings, LLC, a gaming technology subscription platform and community hub based in Brazil and an affiliate of GEEX Sponsor, LLC, the Company's sponsor. The Company will not, however, complete an initial business combination with only Gamers Club.
J.P. Morgan Securities LLC and William Blair & Company, L.L.C. served as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the "SEC") and was declared effective on December 1, 2021. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the IPO may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687 or by email at prospectus@williamblair.com. Copies of the Company's registration statement and prospectus for the offering are available on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements," including with respect to the Company's IPO and the use of the net proceeds therefrom and the Company's plans with respect to a potential initial business combination. No assurance can be given that the proceeds of the IPO will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Tomi Kovanen
Games & Esports Experience Acquisition Corp.
P: (213) 266-7674
E: tk@geexcorp.com
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SOURCE Games & Esports Experience Acquisition Corp.
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