Company: GAME
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010979
Chunk: 148

Company: GameSquare Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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 the Company’s securities

The
Company is authorized to issue an unlimited number of common shares, with no par value. Holders of common shares are entitled to one
vote in respect of each common share held at shareholder meetings of the Company.

(b)
Activity for the periods presented

On
January 2, 2025, the Company extinguished its outstanding convertible note and standby equity purchase agreement with Yorkville Advisors
Global L.P. (“Yorkville”). Yorkville was issued 5,032,233 common shares for conversion of $3.7 million principal ($4.0 million
fair value), with the remaining $411 thousand refinanced into the promissory note with Yorkville discussed above.

Issued
1,094,891 common shares to pay an outstanding settlement due to the former CEO of Faze Clan for $1.5 million.

During
the three months ended March 31, 2025, the Company issued 62,500 common shares from the exercise of Restricted Share Units (“RSUs”)
under its equity incentive plan (see Note 11(b)).

On
March 7, 2024, 10,132,884 common shares of the Company were issued for the completion of the Merger (see Note 4).

In
conjunction with the Merger, on March 7, 2024, the Company completed a private placement in public equity financing (the “PIPE
Financing”) with certain investors in which the Company offered 7,194,244 units at a purchase price of $1.39 per unit for aggregate
gross proceeds of $10.0 million. Each unit consisted of one share of the Company’s common stock and a warrant to purchase 0.15
shares of the Company’s common stock. As a result, the Company issued an aggregate of 7,194,224 common shares of the Company and
warrants to purchase up to 1,079,136 shares of the Company pursuant to the PIPE Financing. Each warrant has an exercise price of $1.55
per share and expire on March 7, 2029 (see Note 12).

10.
Net loss per share

As
the Company incurred a net loss for the three months ended March 31, 2025 and 2024, the inclusion of certain Options, unvested stock
units, warrants, and contingent shares in the calculation of diluted earnings per share would be anti-dilutive and, accordingly, were
excluded from the diluted