Hall of Fame Resort & Entertainment Company Announces Proposed Public Offering of Common Stock and Warrants

Rhea-AI Summary

Hall of Fame Resort & Entertainment Company announces underwritten public offering of common stock and warrants

Positive

• Hall of Fame Resort & Entertainment Company has commenced an underwritten public offering of shares of its common stock and warrants to purchase shares of common stock. The offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC. Maxim Group LLC is acting as the sole book-runner for the offering.

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• None.

CANTON, Ohio, Oct. 10, 2023 /PRNewswire/ -- Hall of Fame Resort & Entertainment Company ("HOFV" or the "Company") (NASDAQ:HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, today announced that it has commenced an underwritten public offering of shares of its common stock and warrants to purchase shares of common stock (the "Offering"). All of the shares of common stock and warrants and the shares of common stock underlying the warrants are being offered by HOFV. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Maxim Group LLC is acting as the sole book-runner for the offering.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-259242) previously filed with the U.S. Securities and Exchange Commission ("SEC"), which was declared effective on September 14, 2021. The shares may be offered only by means of the written prospectus supplement and the accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the public offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to the public offering may also be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus, together with the information incorporated therein, for more complete information about HOFV and the proposed offering. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Hall of Fame Resort & Entertainment Company:
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found at www.HOFREco.com

Safe Harbor

Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as "opportunity," "future," "will," "goal," "enable," "pipeline," "transition," "move forward," "towards," "build out," "coming" and "look forward" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors that may affect actual results or outcomes include, among others, the Company's ability to manage growth; the Company's ability to execute its business plan and meet its projections, including obtaining financing to construct planned facilities; potential litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company's products and services, and in particular economic and market conditions in the resort and entertainment industry; the effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company's liquidity, operations and personnel; increased inflation; the inability to maintain the listing of the Company's shares on Nasdaq; and those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Hall of Fame Resort & Entertainment Company

FAQ

What is Hall of Fame Resort & Entertainment Company announcing?

Hall of Fame Resort & Entertainment Company has commenced an underwritten public offering of shares of its common stock and warrants to purchase shares of common stock.

Who is acting as the sole book-runner for the offering?

Maxim Group LLC is acting as the sole book-runner for the offering.

Where can I find more information about the offering?

More information about the offering can be found on the SEC's website at www.sec.gov or by contacting Maxim Group LLC.

Is there any assurance about the completion of the offering?

There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Is this press release an offer to sell securities?

No, this press release does not constitute an offer to sell securities, nor shall there be any sale of these securities in any state or other jurisdiction without proper registration or qualification under the securities laws.