WestPark Capital Announces Closing of $5 Million Private Placement Priced at-the-Market for Mobile Global Esports (NASDAQ:MGAM)

LOS ANGELES--(BUSINESS WIRE)--WestPark Capital, Inc., a full-service investment bank and securities broker-dealer, today announced the closing of a private placement priced at-the-market for Mobile Global Esports Inc. (NASDAQ:MGAM), a mobile esports company with an esports and social platform that includes proprietary compression technology. In addition, the company holds trademark and IP rights for collegiate esports tournaments and players in India. The company intends to use the net proceeds from the offering to develop championship esports events in India and its game platform.

WestPark Capital, Inc. was the Exclusive Placement Agent for the offering.

The unregistered shares of common stock and warrants sold in the offering described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the shares of common stock, the warrants and the shares of common stock underlying the warrants may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. The securities were offered only to accredited investors.

About WestPark Capital, Inc.

WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark Capital provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements, CMPOs, RDs, ATM, SIPOs and corporate finance advisory services. Additional information about WestPark Capital is available at www.wpcapital.com or at [e-mail].

This press release shall not constitute an offer to sell or a 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.