Company: GAME
Filing Date: 2025-07-09
Form Type: 424B5
Source: 0001641172-25-018315
Chunk: 23

Company: GameSquare Holdings, Inc.
Filing Date: 2025-07-09
Form: 424B5
Chunk 23
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, against payment in immediately available funds and subject to customary closing conditions.

We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act, or to contribute to payments the underwriters may be required to make in respect of those liabilities.

Option to Purchase Additional Shares.

We have granted to the underwriters an option to purchase up to 1,263,157 additional shares of Common Stock or Pre-Funded Warrants at the public offering price, less the underwriting discounts and commissions. This option is exercisable for a period of 45 days. The underwriters may exercise this option solely for the purpose of covering overallotments, if any, made in connection with the sale of Common Stock offered hereby.

Discounts and Commissions

The following table shows the initial public offering price, underwriting discounts and commissions and proceeds, before expenses, to us. These amounts are shown assuming both no exercise and full exercise of the underwriters’ option to purchase additional shares.

|                                           |     | Per Share |       |     | Per Pre-Funded Warrant |        |     | Total                         
 Without Over-Allotment Option |           |     | With Over Allotment Option |           |
|:------------------------------------------|:----|:----------|------:|:----|:-----------------------|-------:|:----|:------------------------------|----------:|:----|:---------------------------|----------:|
| Public offering price                     |     | $         |  0.95 |     | $                      | 0.9499 |     | $                             | 8,000,001 |     | $                          | 9,200,000 |
| Underwriting discounts and commissions(1) |     | $         | 0.067 |     | $                      |  0.067 |     | $                             |   560,000 |     | $                          |   644,000 |
| Proceeds to GameSquare, before expenses   |     | $         | 0.883 |     | $                      | 0.8829 |     | $                             | 7,440,001 |     | $                          | 8,556,000 |

| (1) | Includes                          
 an underwriting discount of 7.0%. |

We estimate that our total expenses of this offering, excluding the estimated underwriting discounts and commissions, will be approximately $200,000, which includes up to $105,000 that we have agreed to reimburse the underwriter