Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 533

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 533
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 assumed by GameSquare and converted into
warrants to purchase shares of GameSquare Common Stock on substantially the same terms, except that the assumed warrants cover a number
of shares of GameSquare Common Stock, and have an exercise price, determined using the Exchange Ratio.

Post-Closing
Governance

In
connection with the Merger and in accordance with the Merger Agreement, effective as of the Closing, the board of directors of the Company
(the “Board”) increased the size of the Board from six to nine members and appointed Paul Hamilton and Nick Lewin (each,
a “New Director” and collectively, the “New Directors”), who were previously members of FaZe’s board of
directors, to serve on the Board, in each case, to hold office until their successors are duly elected and qualified or their earlier
death, resignation or removal. Following the appointment of the New Directors, there remains one vacancy on the Board. Pursuant to the
Merger Agreement, such vacancy is to be filled at such time that the Board duly elects an individual to serve in such capacity in accordance
with the Bylaws and the terms of the Merger Agreement. It has not yet been determined on which committees of the Board Mr. Hamilton and
Mr. Lewin will serve.

PIPE
Financing

Substantially
concurrently with the consummation of the Merger, the Company completed its previously announced private placement in public equity financing
(the “PIPE Financing”). In connection with the PIPE Financing, the Company entered subscription agreements (the “Subscription
Agreements”) with certain investors (the “PIPE Investors”), pursuant to which the Company issued to the PIPE Investors
an aggregate of 7,194,244 units at a purchase price per unit of $1.39, for aggregate gross proceeds of $10.0 million. Each unit consists
of one share of GameSquare Common Stock and a warrant to purchase 0.15 shares of GameSquare Common Stock. As a result, the Company issued
an aggregate of 7,194,224 shares of GameSquare Common Stock (the “PIPE Shares”) and warrants to purchase up to 1,079,136
shares of GameSquare Common Stock (the “PIPE Warrants) pursuant to the PIPE Financing. Each whole PIPE Warrant is exercisable for
one share of GameSquare Common Stock at an exercise price of $1.55 per share for a period of five years after the Closing Date.

The
PIPE Shares and PIPE Warrants are subject to