Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 214

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 214
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ifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying GameSquare that for the last 30 consecutive business days,
the closing bid price for GameSquare’s common stock (the “Common Stock”) has been below the minimum $1.00 per share
required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Nasdaq Minimum Bid
Price Requirement”). The Minimum Bid Price Notice has no immediate effect on the listing of the Common Stock, and the Common Stock
will continue to trade The Nasdaq Capital Market.

In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), GameSquare has been provided an initial compliance period of 180 calendar days, or
until March 9, 2026, to regain compliance with the Nasdaq Minimum Bid Price Requirement, which requires that the closing bid price of
the Common Stock meet or exceed $1.00 per share for a minimum of ten consecutive trading days.

If
GameSquare is unable to regain compliance with the Nasdaq Minimum Bid Price Requirement, GameSquare may be eligible for an additional
180-day compliance period. To qualify, GameSquare will be required to meet the continued listing requirement for market value of publicly
held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Nasdaq Minimum Bid Price
Requirement and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period.
If GameSquare does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, Nasdaq
will notify GameSquare of its determination to delist the Common Stock, at which point GameSquare would have an opportunity to appeal
the delisting determination to a hearings panel.

GameSquare
will continue to monitor the bid price of the Common Stock and consider its available options to regain compliance with the Nasdaq Minimum
Bid Price Requirement. However, there can be no assurance that GameSquare will be able to regain compliance with the Nasdaq Minimum Bid
Price Requirement.

July
9, 2025 Offering

On July 8, 2025, the Company entered into an underwriting agreement (the
“July 8 Underwriting Agreement”) with Lucid Capital Markets, LLC (the “Underwriter”) pursuant to which the Company
issued and sold to the Underwriter pursuant to the July 8 Underwriting Agreement 4,692,866 shares of