Toronto Stock Exchange (TSX) listed Canadian esports and media company Enthusiast Gaming Holdings announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) as part of the company’s efforts to get its common shares listed on the NASDAQ. Following the effectiveness of the Form 40-F filed with the SEC, Enthusiast Gaming will become a reporting issuer in the U.S., which is a requirement for the company’s listing on the NASDAQ. 

Enthusiast Gaming is already operationally present in the U.S., including an operations office, broadcast studio, and sales group in Los Angeles, and additional sales groups in New York and Chicago. Furthermore, the company, which is associated with Luminosity Gaming, the Vancouver Titans, and the Seattle Surge, reported that the U.S. is its most prominent source of audience and revenue. 

The listing on the NASDAQ will give Enthusiast Gaming access to additional capital to execute its business plan. Over the last couple of years, Enthusiast executed the capital-intensive strategy of acquiring market share by buying several esports, gaming, and media companies such as Omnia Media while repeatedly raising funds. Enthusiast Gaming’s last capital raise was completed in January 2021 as the company secured almost $37M in a bought deal financing. 

The company, which first went public on the Toronto Stock Exchange Venture Exchange (TSXV) in 2018 and graduated to the Toronto Stock Exchange (TSX) in early 2020, more than quintupled its market price since November 2020 and recently exceeded a market capitalization of $1B USD. 

The company announced Wednesday that all paperwork and filings have been completed and Enthusiast Gaming will be listed on the NASDAQ as early as next week. The company is expected to trade under the ticker EGLX. 

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Source: https://esportsobserver.com/enthusiast-gaming-nasdaq/?utm_source=rss&utm_medium=rss&utm_campaign=enthusiast-gaming-nasdaq