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Mobile Global Esports Inc. (NASDAQ: MGAM), often referred to as MOGO, is a pioneering mobile and social platform dedicated to collegiate esports tournaments. With a strong foothold in India, the world's fastest-growing digital market, MOGO orchestrates a variety of competitive, collegiate-level esports tournaments across the nation. The company's mission is to foster the growth of esports at the collegiate level, making competitive gaming more accessible and inclusive.
One of MOGO's recent achievements is the successful production of the 'MOGO National Championship 2.0,' a landmark event that featured 16 teams from various Indian universities competing in live, LAN tournaments. The event, held at Lovely Professional University, was in collaboration with Elite Power Sports, Skyesports, and S8UL Esports, elevating the championship to a professional level and showcasing remarkable skills and thrilling competitive play.
MOGO has also expanded its initiatives by establishing the All India University Esports Championship in partnership with Sage University, Bhopal. This collaboration aims to bolster the esports ecosystem in India, uniting top university teams and offering an exceptional gaming experience. The company has consistently led efforts to promote esports through events like the MOGO Collegiate Championship, featuring games such as FC24, BGMI, Valorant, Pokémon, and CODM, with a significant prize pool to incentivize participation.
In addition to organizing tournaments, MOGO has launched innovative programs like 'Mogo Maniacs,' a Campus Ambassadors Program designed to cultivate a dynamic gaming community within top universities. This initiative aims to bridge the gap between amateur esports enthusiasts and professional gaming opportunities.
Financially, MOGO continues to navigate the market environment while striving to meet Nasdaq's compliance requirements. The company's commitment to excellence in esports is reflected in its strategic partnerships and ongoing efforts to create value for gamers, colleges, brands, and the wider esports ecosystem.
For more information about Mobile Global Esports Inc. and its future events, visit their official website and follow them on social media.
Mobile Global Esports (NASDAQ: MGAM) announced a $1 million share repurchase program to enhance long-term shareholder value. CEO David Pross highlighted their confidence in market opportunities and the strength of their balance sheet, suggesting the current valuation doesn't reflect MOGO's potential. The buyback allows for shares to be repurchased through various means, depending on market conditions. As of September 30, 2022, there were approximately 18.1 million shares outstanding. The company aims to strategically deploy resources for growth amidst favorable market factors.
Mobile Global Esports Inc. (NASDAQ: MGAM) announced the appointment of Rishi Jaitly as Chief Strategic Advisor on December 8, 2022. Jaitly, a seasoned entrepreneur and executive, previously led Twitter's entry in India and was the Founding CEO of Times Bridge. He aims to enhance MOGO's mission of expanding collegiate esports in India, focusing on unlocking potential for young athletes. MOGO, established in March 2021, specializes in mobile esports and social platforms, and has trademark rights for collegiate esports tournaments in India.
Mobile Global Esports Inc. (NASDAQ:MGAM) has signed contracts with six winners of the MOGO National Championships, ongoing from November 2021 to April 2022. The championships featured over 200 colleges, concluding with Mumbai University 'Sharks' as national champions. Each signed athlete will receive monthly compensation and represent MOGO in esports tournaments. CEO Sunny Bhandarkar emphasized the commitment to developing esports careers in India, aiming for India to become a leading gaming nation. The upcoming collegiate tournaments will be announced shortly.
Mobile Global Esports Inc. (NASDAQ: MGAM) announced the appointment of Kim Meltzer as managing director. Meltzer, with 30 years of experience in the event industry and a focus on esports for over a decade, has produced over 500 significant events. Her expertise is expected to enhance Mobile Global Esports' operations, particularly in expanding its esports initiatives in India and South Asia. Meltzer's background includes co-founding Destination Esports and being a finalist for the 'Unsung Hero' award at the 2018 Esports Awards.
WestPark Capital announced the closure of a private placement for Mobile Global Esports Inc. (NASDAQ:MGAM), involving unregistered shares and warrants. The funds will be used to develop championship esports events and enhance their gaming platform in India. The offering was conducted under Regulation D, exclusively for accredited investors. The shares and warrants sold are not registered under the Securities Act, limiting their sale in the U.S. without appropriate exemptions.
Mobile Global Esports Inc. (NASDAQ:MGAM) announced the closing of a private placement, raising approximately $5.0 million from the sale of 1,886,793 shares and associated warrants at a price of $2.65 per share. The company plans to utilize these proceeds to advance its championship esports events and game platform in India. The warrants have an exercise price of $2.90 and expire in five years. Mobile Global Esports is focused on expanding its presence in the growing esports market of India.
Mobile Global Esports Inc. (NASDAQ:MGAM) announced a securities purchase agreement with an institutional investor for the sale of 1,886,793 shares and warrants at a price of $2.65 per share. The private placement, expected to close around September 23, 2022, will generate approximately $5.0 million in gross proceeds. The funds will be utilized to develop championship esports events in India and enhance its gaming platform. WestPark Capital is the exclusive placement agent for the offering.
Mobile Global Esports Inc. (NASDAQ:MGAM) announced its CEO, David Pross, will present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022, in NYC. The live stream is scheduled for September 13 at 11:30 AM. In the past 18 months, over 1,200 teams participated in 27 MOGO esports tournaments in India. MOGO also launched the 'Millionaire Squad Challenge,' offering one million rupees to the winning university team and a $500,000 prize pool for an esports game development competition.
Mobile Global Esports (MOGO) has partnered with Artemis Ave LLC to launch a custom gaming platform aimed at the Indian university esports market. This initiative features ZuCasa's video 'Casas' technology, enabling users to enjoy HD video and audio in private suites during gaming and watching events. The partnership targets a share of the projected $1.2 billion in-game ad revenue. MOGO's tournament schedule includes over 200 universities participating in 70 tournaments for the 2022/2023 academic year.
Mobile Global Esports Inc. (NASDAQ:MGAM) announced its 2022/2023 collegiate esports tournament season, expecting over 200 universities to participate in 70 tournaments across 10 games. CEO David Pross reported significant growth, with 1,297 teams participating in 27 tournaments in the past 18 months. The 'Millionaire Squad Challenge' offers a chance for the winning team to earn a million rupees and turn professional. Proceeds from MOGO's recent IPO are allocated to support esports tournaments and a game development competition in India with a $500,000 prize pool.
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