Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 280

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 280
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 to which the Company issued to the PIPE Investors
an aggregate of 7,194,244 units at a purchase price per unit of $1.39, for aggregate gross proceeds of $10.0 million. Each unit consists
of one share of GameSquare Common Stock and a warrant to purchase 0.15 shares of GameSquare Common Stock. As a result, the Company issued
an aggregate of 7,194,224 shares of GameSquare Common Stock (the “PIPE Shares”) and warrants to purchase up to 1,079,136
shares of GameSquare Common Stock (the “PIPE Warrants) pursuant to the PIPE Financing. Each whole PIPE Warrant is exercisable for
one share of GameSquare Common Stock at an exercise price of $1.55 per share for a period of five years after the Closing Date.

The
PIPE Shares and PIPE Warrants are subject to a four month hold period under Canadian securities laws expiring four months following the
Closing Date. The PIPE Shares will not be registered under the Securities Act of 1933, as amended (the “Securities Act”),
or any U.S. state securities laws, and were issued pursuant to and in accordance with the exemption from registration under the Securities
Act, under Section 4(a)(2) and/or Regulation D promulgated under the Securities Act. The securities may not be offered or sold in the
United States absent registration or pursuant to an exemption from the registration requirements of the Securities Act and applicable
U.S. state securities laws.

The
Company also entered into Registration Rights Agreements with the PIPE Investors (the “Registration Rights Agreements”).
The Registration Rights Agreements provide, among other things, that the Company will as promptly as reasonably practicable, and in any
event no later than 150 days after the Closing Date (the “Filing Deadline”), file with the SEC (at the Company’s sole
cost and expense) a registration statement registering the resale of the PIPE Shares and the shares of GameSquare Common Stock underlying
the PIPE Warrants issued to the PIPE Investors, and will use its commercially reasonable efforts to have such registration statement
declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following
the Filing Deadline if the SEC notifies the Company that it will “review” such registration statement and (ii) the fifth
business day after the date the Company is notified (orally or in writing) by