Company: GAME
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001641172-25-018031
Chunk: 11

Company: GameSquare Holdings, Inc.
Filing Date: 2025-07-07
Form: 424B5
Chunk 11
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 could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company cannot provide assurance that it will successfully address any or all of these risks. There is no assurance that any risk management steps taken will avoid future loss due to the occurrence of the adverse effects set out in the risk factors herein and the accompanying prospectus, or in the other documents incorporated or deemed incorporated by reference herein or therein or other unforeseen risks.

We have broad discretion in the use of the net proceeds from this offering and might not apply the proceeds in ways that enhance our operating results or increase the value of your investment.

The Company currently intends to allocate the net proceeds received from the offering as described under “ Use of Proceeds”; however, the Company will have discretion in the actual application of such net proceeds, and may elect to allocate net proceeds differently from that described under “ Use of Proceeds” if determined by the Board to be in the Company’s best interests to do so. Shareholders may not agree with the manner in which the Board and management choose to allocate and spend the net proceeds. The failure by the Company to apply these funds effectively could have a material adverse effect on the Company’s business, financial condition, results of operations and prospects.

Loss of Entire Investment

An investment in our Common Stock is speculative and may result in the loss of an investor’s entire investment. Only potential investors who are experienced in high-risk investments and who can afford to lose their entire investment should consider an investment in the Company.

Investors participating in this offering may incur immediate and substantial dilution in the book value of their shares.

Since the offering price for our shares of Common Stock in this offering is substantially higher than the net tangible book value per share of Common Stock outstanding prior to this offering, you will suffer immediate and substantial dilution in the net tangible book value of the shares of Common Stock you purchase in this offering. After giving effect to the sale of shares of our Common Stock in this offering at the public offering price of $ per share and based on our net tangible book value (deficit) as of March 31, 2025 of $ per share, if you purchase shares of Common Stock in this offering you will suffer substantial and immediate dilution of $ per share in the net tangible book value of the Common Stock. If the underwriters exercise their option to purchase additional shares of Common Stock, you will experience additional dilution. See the section entitled “Dilution” below for a more detailed discussion of the dilution you will