Company: GAME
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023972
Chunk: 209

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 209
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 which the Company agrees to issue to Alta $150,000 of the Company’s restricted common stock (“Settlement Shares”).
In the event that the collective value of the Settlement Shares drops below $150,000 on the six month anniversary date following issuance
of the Settlement Shares, or the next business day if the six-month anniversary date falls on a weekend or holiday (the collective value
to be computed based on the Nasdaq closing price of GameSquare’s common stock on that six-month anniversary date, or the next business
day if the six-month anniversary date falls on a weekend or holiday), then within three (3) business days of that date, GameSquare shall
pay the difference between the collective value and $150,000 to Alta in cash (the “True-Up Payment”). Upon GameSquare’s
delivery of the Settlement Shares and True Up Payment, if applicable, the public warrants that are owned and/or beneficially held by
Alta at that time shall be cancelled immediately and Alta shall have no ownership, right, claim, interest or benefit in such public warrants.
Moreover, within three (3) business days of Alta’s receipt of the Settlement Shares, Alta shall file the Stipulation of Voluntary
Dismissal with Prejudice, dismissing all claims asserted in the Action against GameSquare with prejudice.

Officer
Grants

On
July 11, 2025 (the “Grant Date”), Justin Kenna, Louis Schwartz, and Michael Munoz were each granted (i) options to purchase
an aggregate of 1,045,712 shares of GameSquare common stock and (ii) 464,863 restricted stock units (“RSUs”), each representing
a contingent right to receive one share of GameSquare common stock. The grants were made as part of the GameSquare long-term incentive
program and vest as follows: 25% on the Grant Date, 37.5% on the first anniversary of the Grant Date, and 37.5% on the second anniversary
of the Grant Date.

On
July 11, 2025, Justin Kenna was also granted a one-time grant of stock options to purchase an aggregate of 150,000 shares of GameSquare
common stock, and 225,000 restricted stock units, which will convert into one share of GameSquare common stock, pursuant to Justin Kenna’s
Employment Agreement, and which vest immediately.

Nasdaq bid price requirement 

On October 16, 2024, we received a letter from The