Company: GAME
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023972
Chunk: 216

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 216
---
 to 1,000 shares of common stock of the Company,
par value $0.0001 per share, resulting in an effective conversion price of $1.50 per share.

Repurchase
Program

On
August 1, 2025, the Board of Directors of the Company authorized a share repurchase program pursuant to which the Company may purchase
shares of common stock, par value $0.0001 per share up to $5,000,000 worth of Common Stock. Under the repurchase program, GameSquare
may purchase shares of its Common Stock on a discretionary basis from time to time through open market repurchases, in privately negotiated
transactions, or other means, including through Rule 10b5-1 trading plans. The timing and actual number of shares repurchased will be
determined by management depending on a variety of factors, including, among other factors, stock price, trading volume, market conditions
and other general business considerations. The repurchase program has no expiration date and may be modified, suspended, or terminated
at any time. Repurchases under this program will be funded from the Company’s surplus cash and cash equivalents or future cash
flow generated by its Ethereum yield strategy.

Alta
Settlement

On
April 23, 2025, Alta Partners, LLC filed a Complaint against FaZe Holdings, Inc. and GameSquare Holdings, Inc., in the United States
District Court for the Southern District of New York, alleging that in 2022, FaZe Holdings breached a warrant agreement between FaZe
Holdings and Alta. On August 11, 2025, the Company entered into a Settlement and Release Agreement with Alta Partners, LLC, pursuant
to 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