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Tag: NASD:GAME

  • GameSquare (GAME) Gains Investor Attention Amid Treasury Management Shift

    GameSquare (GAME) Gains Investor Attention Amid Treasury Management Shift

    Following the announcement of a substantial financial and strategic development, GameSquare Holdings, Inc. (NASDAQ: GAME) had a notable market rise. The price of GAME’s shares as of the most recent trading session was $2.19, indicating a remarkable 42.16% increase.

    The company’s announcement of a newly priced underwritten public offering, in which it would issue 8,421,054 common shares at $0.95 per share, comes after this noteworthy increase. Gross profits from the transaction are expected to be around $8 million.

    Proceeds Target Ethereum Treasury and DeFi Initiatives

    The raised capital will primarily support the launch of GameSquare’s Ethereum (ETH)-centered treasury management strategy, marking a significant step in its diversification and growth roadmap.

    This initiative is being undertaken in collaboration with Dialectic, a globally recognized firm specializing in crypto-native capital management. The move signals GameSquare’s entry into the decentralized finance (DeFi) sector, aiming to derive real-time, on-chain yield while broadening its crypto capabilities.

    High-Yield Strategy Anchored in Advanced Technology

    Central to this strategy is the Medici platform, developed by Dialectic, which integrates machine learning algorithms, automated optimization processes, and advanced risk management protocols. GameSquare aims to achieve annualized yields between 8–14%, significantly outpacing traditional ETH staking returns of 3–4%.

    To improve and stabilize returns, this yield-focused treasury model may potentially diversify into other Ethereum-based assets, such as stablecoins and non-fungible tokens (NFTs).

    Board-Backed Crypto Allocation and Long-Term Vision

    The GameSquare Board has endorsed an ETH investment cap of up to $100 million, to be allocated in stages while preserving sufficient operational liquidity. The company’s larger strategic strategy, which is based on media, technology, and gaming, is in line with this crypto-driven treasury approach.

    Additionally, it is anticipated that the collaboration with influential industry players like Rhydon Lee of Goff Capital and Ryan Zurrer of Dialectic would support ongoing innovation and institutional-level adoption of digital assets. GameSquare has committed to keeping shareholders informed as it progresses with this transformative financial strategy.

  • What Caused The Engine Media (GAME) Stock To Rise 26% After Hours?

    What Caused The Engine Media (GAME) Stock To Rise 26% After Hours?

    The stock of Engine Media Holdings Inc. (GAME) was trading at $13.99 in after-hours, up 26.04%. Engine Media stock closed Wednesday’s session down -5.45% at $11.10. A total of 0.55 million shares exchanged hands in the GAME stock during the session, an increase over its average daily volume of 0.2 million shares. In the last 12 months, the shares of GAME have risen 17.46%, and in the last week, they have decreased by -9.31%.

    The GAME stock price has gone up by 3.64% while going down by 35.20% over the last six months. In addition, GAME’s market capitalization is currently $154.86 million and there are 13.95 million outstanding shares. Following the filing of a patent infringement lawsuit, GAME stock rose.

    Who was sued by GAME?

    Engine Media is dedicated to providing first-class esports, news, and gaming experiences to its partners. GAME’s subsidiaries include Stream Hatchet, Eden Games, WinView Games, UMG, and Frankly Media. Streaming and data-based offerings; programmatic advertising and sponsorships generate revenue for GAME through direct-to-consumer marketing and subscriptions.

    Engine Winview Inc., a subsidiary of Engine Media, has filed a lawsuit against DraftKings Inc., in the United States District Court for the District of New Jersey, announced GAME in press release yesterday.

    • Several patents owned by Winview are the subject of the lawsuit.
    • Morgan Chu of Irell & Manella, LLP and Thomas R. Curtin of McElroy, Deutsch, Mulvaney & Carpenter, LLP are representing GAME in this matter.
    • The lawsuit alleges that various gaming services provided by DraftKings infringe Winview’s United States Patent No. 10,721,543 and United States Patent No. 9,878,243.
    • Patent No. 10,721,543 or the “’543 Patent” entitled “Method Of and System For Managing Client Resources and Assets for Activities On Computing Devices.”
    • Patent No. 9,878,243 or the “‘243 Patent” entitled “Methodology for Equalizing Systemic Latencies in Television Reception in Connection with Games of Skill Played in Connection with Live Television Programming”.
    • A damages action is filed in this case seeking other appropriate relief as well.
    • A primary operating unit at GAME, Winview offers skill-based cash games as part of a viewing experience for traditional sports as well as esports.
    • Further, Engine Media (GAME)’s Winview operates a portfolio of 80 issued US patents, many of which are related to mobile and online sports betting.

    Engine Media (GAME) also announced Tom Rogers, the GAME’s Chairman, and Lou Schwartz, its CEO, will ring the Nasdaq Closing Bell. Executives from GAME will ring the bell today at 3:45 p.m. ET. Engine Media (GAME) will ring the bell to celebrate its Nasdaq listing earlier this month.