Company: GAME
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023972
Chunk: 186

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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, 2024, the Company entered into a Standby Equity Purchase Agreement (“SEPA”) with YA II PN, LTD, a Cayman Islands
exempt limited partnership (“Yorkville”), pursuant to which the Company has the right to sell to Yorkville up to $20.0 million
of its shares of common stock, par value $0.0001 per share, subject to certain limitations and conditions set forth in the SEPA.

Each
advance the Company requests in writing to Yorkville under the SEPA may be for a number of shares of common stock up to the greater of
(i) 500,000 shares or (ii) such amount as is equal to 100% of the average daily volume traded of the common stock during the five trading
days immediately prior to the date the Company requests each advance. The shares of common stock purchased pursuant to an advance delivered
by the Company will be purchased at a price equal to 97% of the lowest daily VWAP of the shares of common stock during the three consecutive
trading days commencing on the date of the delivery of the advance notice.

The
SEPA will automatically terminate on the earliest to occur of (i) the 36-month anniversary of the date of the SEPA or (ii) the date on
which the Company shall have made full payment of advances pursuant to the SEPA.

In
connection with the execution of the SEPA, the Company paid a diligence fee in cash to Yorkville in the amount of $25,000. Additionally,
the Company agreed to pay a commitment fee of $200,000 to Yorkville, payable as follows: (i) $100,000 payable within three days of the
date of the SEPA, in the form of the issuance of 80,000 shares of common stock, and (ii) $100,000 payable on the three-month anniversary
of the date of the SEPA, payable in either cash or in the form of an advance.

Additionally,
Yorkville agreed to advance to the Company, in exchange for a convertible promissory note (the “Yorkville CD”), an aggregate
principal amount of up to $6.5 million, which was funded on July 8, 2024. The purchase price for the Yorkville CD was 93.0% of the principal
amount or $6.045 million. Interest shall accrue on the outstanding balance of the Yorkville CD at an annual rate equal to 0%, subject
to an increase to