Company: GAME
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023972
Chunk: 207

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 207
---
 to the Underwriter pursuant to the Underwriting Agreement 46,666,667 shares of common
stock, par value $0.0001 per share , at an offering price of $1.50 per Share, and grant to the Underwriter an option for the issuance
and sales of up to 7,000,000 additional Shares (the “Option”) to be sold by the Company (the “Offering”).
The Offering closed on July 18, 2025. The aggregate gross proceeds to the Company from the Offering were approximately $61.5 million,
after deducting an underwriting discount of 7% of the price to the public, but before deducting expenses payable by the Company in connection
with the Offering. Pursuant to the Underwriting Agreement we also agreed to issue the Underwriter’s common stock purchase warrants
(the “Representative’s Warrant”) to purchase up to 10% of the securities sold in the Offering at an exercise
price of $1.80.

On
July 18, 2025, the Underwriter partially exercised its Option pursuant to the Underwriting Agreement and purchased 3,500,000 Shares at
a price of $1.50 per Share. The Underwriter’s partial exercise of its Option resulted in additional gross proceeds to the Company
of $4,882,500 after deducting the underwriting discount of 7% of the price to the public.

    24

Series
A-1 Preferred Stock

On
July 23, 2025, the board of directors of the Company approved a Certificate of Designation of Series A-1 Convertible Preferred Stock
of the Company (the “Certificate of Designation”) establishing the rights, preferences, powers, restrictions
and limitations of the Company’s newly authorized 3,433.33 shares of the Series A-1 Preferred Stock. The Certificate of Designation
was filed with the Secretary of State of the State of Delaware on July 24, 2025, and became effective upon filing.

The
Series A-1 Preferred Stock ranks senior to all junior securities, including Common Stock, and carries a $1.50 per share liquidation preference
on an as-converted basis, with such preference subject to the Shareholder Vote Condition. After satisfying this preference, holders participate
pro rata with junior securities. The Series A-1 Preferred Stock has no voting rights, and upon satisfaction of the Shareholder Vote Condition,
each share of Series A-1 Preferred Stock