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Hall of Fame Resort & Entertainment Company ("HOFV" or the "Company"), the only resort, entertainment and media company centered around the power of professional football today announced the pricing of its previously announced underwritten public offering of 750,000 shares of common stock and accompanying warrants to purchase 750,000 shares of common stock. Each share of common stock is being sold together with one warrant at a combined effective offering price of $3.75. The warrants will be immediately exercisable at a price of $3.75 per share of common stock and will expire five years from the date of issuance. The shares of common stock and the accompanying warrants can only be purchased together in the offering but will be issued separately and will be immediately separable upon issuance. HOFV has granted the underwriters a 45-day option to purchase up to an additional 112,500 shares of common stock and/or additional warrants to purchase up to 112,500 shares of common stock.
Maxim Group LLC is acting as sole book-running manager for the offering.
The gross proceeds of the offering are expected to be approximately $2.8 million before deducting underwriting discounts and commissions and estimated offering expenses. This offering is expected to close on or about October 13, 2023, subject to customary closing conditions. Hall of Fame Resort & Entertainment Company intends to use the net proceeds from this offering for general corporate purposes, including the potential repayment of indebtedness.
Posted In: HOFV
