Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 66

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 66
---
 a new prospectus or
prospectus supplement is filed with the Securities and Exchange Commission.

Series
A-1 Preferred Stock

On
July 23, 2025, the board of directors of the Company approved a Certificate of Designation of Series A-1 Convertible Preferred Stock
of the Company (the “Certificate of Designation”) establishing the rights, preferences, powers, restrictions and limitations
of the Company’s newly authorized 3,433.33 shares of the Series A-1 Preferred Stock, par value $0.0001 per share (the “Series
A-1 Preferred Stock”). The Certificate of Designation was filed with the Secretary of State of the State of Delaware on July 24,
2025, and became effective upon filing.

The
Series A-1 Preferred Stock ranks senior to all junior securities, including Common Stock, and carries a $1.50 per share liquidation preference
on an as-converted basis, with such preference subject to the Shareholder Vote Condition. After satisfying this preference, holders participate
pro rata with junior securities. The Series A-1 Preferred Stock has no voting rights, and upon satisfaction of the Shareholder Vote Condition,
each share of Series A-1 Preferred Stock will automatically convert into 1,000 shares of the Common Stock.

Subscription

On July 24, 2025, the Company entered into a Subscription Agreement (the
“Subscription Agreement”) with Robert Leshner (“Subscriber”), pursuant to which Subscriber purchased from the
Company 3,433.33 shares of Series A-1 Convertible Preferred Stock, in consideration for that certain Crypto Punk 5577 non-fungible token,
which has been deemed to have a fair market value of $5,149,995 (the “Issuance”). Each share of Series A-1 Preferred Stock
was issued at a price of $1,500 per share and automatically converts, at a fixed ratio 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 up to $5,000,000 of shares 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