Motorsport Games (NASDAQ:MSGM) is going public and we have everything potential investors in MSGM stock will want to know about its initial public offering (IPO).
Let’s start this off by answering some basic questions. For example, when is Motorsport Games going public? The company’s IPO actually starts today and will last through Friday.
Next up is what the price range for the MSGM IPO is? The company was targeting a price of $20 per share with its IPO. However, the stock has quickly surged above that after it started trading today.
The Motorsport Games IPO has the company offering up 3 million shares of MSGM stock. There’s also a 30-day option for underwriters of the IPO to purchase an additional 450,000 shares at the initial price.
Motorsport Games says that it expects to gain $60 million in funds from the IPO. This doesn’t include any additional funds if underwriters purchase additional shares. Canaccord Genuity LLC and The Benchmark Company, LLC are acting as the joint book-running managers for the IPO.
Motorsport Games is a video game company focused on the development of titles with potential in the esports market. Its focus is on racing games and it develops titles in the NASCAR and the British Touring Car Championship series. The company was founded in 2015 and has headquarters in Miami, Fla., and London.
MSGM stock was up 52% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.