Gamer Pakistan Announces Closing of Initial Public Offering
HENDERSON, Nev., Oct. 11, 2023 (GLOBE NEWSWIRE) -- Gamer Pakistan Inc. (NASDAQ:GPAK), an early-stage technology and esports company focused on game development and in-game AI community engagement, and organizing esports events in Pakistan, today announced the closing of its initial public offering of 1,700,000 shares at a public offering price per share of $4.00. The Company's stock began trading on the Nasdaq Capital Market under the ticker symbol "GPAK".
The gross proceeds to Gamer Pakistan from the offering, before deducting the underwriting discounts and commissions and offering expenses, amount to $6.8 million. Gamer Pakistan expects to use the net proceeds from the offering to build infrastructure, organize and promote esports tournaments in Pakistan, increase staff, acquire one or more eGame developers, build an integration in to Trade Desk for the Sale of Data to Brands, and provide general working capital.
WestPark Capital, Inc. acted as the Lead Underwriter, and R. F. Lafferty the Book-Running Manager for the offering.
A registration statement on Form S-1 relating to the shares of common stock being sold in this offering was filed with the U.S. Securities and Exchange Commission ("SEC") and became effective on September 28, 2023.
The offering is being made only by means of a prospectus. A final prospectus relating to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. A copy of the final prospectus relating to this offering may also be obtained from WestPark Capital, Inc., Attn: Prospectus Department, 1800 Century Park East, Suite 220, Los Angeles, CA 90067 or by calling (310) 203-2919 or by emailing [email protected].
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.
About Gamer Pakistan
Gamer Pakistan Inc. (NASDAQ:GPAK), is an esports event development and product marketing company that was founded in November 2021 to create college, inter-university and professional esports events for all genders in Pakistan. Operations are conducted through wholly-owned subsidiary K2 Gamer (PVT) Ltd., and affiliate Elite Sports Pakistan Pvt. Ltd. For more information visit www.gamerpakistan.com.
Forward-Looking Statements
All statements in this release that are not based on historical fact are "forward-looking statements." While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our recently filed Registration Statement on Form S-1, which can be found on the SEC's website at www.sec.gov. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Investor Relations Contact:
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
[email protected]
www.mzgroup.us
