Company: GAME
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023972
Chunk: 191

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 191
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ports.

During
the six months ended June 30, 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).

During
the six months ended June 30, 2024, the Company issued 674,591 common shares from the exercise of Restricted Share Units (“RSUs”)
under its equity incentive plan (see Note 11(b)).

10.
Net loss per share

As
the Company incurred a net loss for the three and six months ended June 30, 2025 and 2024, the inclusion of certain options, restricted
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 loss per share calculation.

    16

The
following table summarizes potential common shares that were excluded as their effect is anti-dilutive:

Schedule of potential common shares excluded as their effect is anti-dilutive

    Three and six months ended June 30, 

    2025  
    2024 
  
    Options and RSUs outstanding 
     3,264,257  
     2,560,116 
  
    Warrants outstanding 
     1,978,481  
     2,294,221 
  
    Shares issuable upon conversion of convertible debt