# EDGAR Filing Document

**Accession Number:** 0001811775
**File Stem:** 0000921895-25-001754
**Filing Date:** 2025-6
**Character Count:** 31194
**Document Hash:** bb2d82a70ceaa921b18b3f04bea07d1a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-25-001754.hdr.sgml**: 20250612

**ACCESSION NUMBER**: 0000921895-25-001754

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250612

**DATE AS OF CHANGE**: 20250612

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Allied Gaming & Entertainment Inc.
- **CENTRAL INDEX KEY:** 0001708341
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 821659427
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90269
- **FILM NUMBER:** 251044496

**BUSINESS ADDRESS:**
- **STREET 1:** 745 FIFTH AVENUE
- **STREET 2:** SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151
- **BUSINESS PHONE:** (646) 768-4240

**MAIL ADDRESS:**
- **STREET 1:** 745 FIFTH AVENUE
- **STREET 2:** SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Allied Esports Entertainment, Inc.
- **DATE OF NAME CHANGE:** 20190815

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Black Ridge Acquisition Corp.
- **DATE OF NAME CHANGE:** 20170602
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Knighted Pastures LLC
- **CENTRAL INDEX KEY:** 0001811775

**ORGANIZATION NAME:**
- **EIN:** 472672342
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 1933 S. BROADWAY
- **STREET 2:** SUITE 746
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90007
- **BUSINESS PHONE:** 213-222-8589

**MAIL ADDRESS:**
- **STREET 1:** 1933 S. BROADWAY
- **STREET 2:** SUITE 746
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90007

### Attached PDF Documents

**Attachment 1:** `ex991to13da1714248002_061225.pdf`

Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 11 of 26 Page ID #:11

47. In December 2023, Mr. Choi and Knighted rapidly amassed significant quantities of stock. For instance, in a single week between December 12 and 19, 2023, Knighted and its affiliates purchased at least 1,953,200 shares of Allied stock. A large number of shares were purchased by Knighted in an off-market transaction with a former member of Allied's board, Lyle Berman. By mid-December 2023, Knighted and Roy Choi's ownership grew to approximately 27.6% of Allied's outstanding shares. Not long after that, on January 8, 2024, Knighted and Mr. Choi sent a Section 220 books and records demand to Allied.

48. At that very same time, between December 2023 and January 2024, Ms. So suddenly bought up large numbers of the Company's shares too. Though she held a de minimis number of shares in the fall of 2023, she significantly grew her holdings from 141,460 shares in September 2023 to 715,941 shares by December 29, 2023.

49. Knighted and Roy Choi, for their part, continued their buying spree as well. On February 6, 2024, Knighted and Roy Choi filed an amended Schedule 13D with the SEC reporting purchases by Knighted of additional shares of Allied common stock, totaling 10,945,030 shares. The Schedule 13D/A reported Knighted and Roy Choi's aggregate beneficial ownership interest as 29.6%. That ownership consisted of 8,851,208 Common Shares and 190,000 warrants to purchase Common Shares at $11.50 per share owned by Knighted, and 1,903,822 Common Shares owned by Mr. Choi. That Schedule 13D did not disclose affiliations with any other parties.

50. Following Knighted's significant share acquisitions, Allied's board of directors enacted certain measures to protect stockholder interests in early 2024 including adopting a shareholder rights plan that would trigger in the event of coordinated buying by stockholders above certain thresholds.

51. Allied's February 2024 Shareholders' Rights Plan (the "Rights Plan") applies equally to all Allied stockholders and serves to significantly dilute any shareholder or group of shareholders that acquires at least 10% of Allied's common stock. Both Knighted and Ourgame International Holdings Ltd. ("Ourgame") (the

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other largest shareholder in Allied) were grandfathered into the Rights Plan and were permitted to retain their greater than 10% ownership in the Company without triggering the Rights Plan. However, if a grandfathered stockholder or its affiliates or associates (a defined in the Rights Plan) purchased additional shares, the grandfathered person and its affiliates and associates would trigger the Rights Plan and experience significant economic and voting dilution. Moreover, if a grandfathered stockholder or any other person with which such grandfathered stockholder has any agreement, arrangement or understanding, written or otherwise, for the purpose of acquiring, holding, voting or disposing of any securities of the Company, acquires additional shares, the grandfathered stockholder and such persons would trigger the Rights Plan and experience significant economic and voting dilution.

52. Knighted and Mr. Choi coordinated purchases with the Knighted Group and knowingly disregarded their Section 13(d) obligations as part of their plan, arrangement, or agreement to avoid the economic and voting consequences of the Rights Plan that would result if Knighted or Choi purchased additional shares themselves or disclosed the Knighted Group. By doing so, Knighted and Choi would all-but ensure a victory in their proxy contest where they seek to unseat the majority of the Board.

## B. Knighted Launches Challenges to the Company's Board In Its Proxy Contest and In Litigation, While the Undisclosed Group Members Buy Up More Shares

53. In March 2024, Knighted delivered its first notice of nomination nominating three candidates for election as class B directors (including Mr. Choi) to Allied's Board and bylaw amendment proposals for shareholder consideration at the upcoming 2024 Annual Meeting.

54. Just before and continuing after Knighted announced its proxy contest, Ms. So and Ms. Choi began to acquire significant numbers of Allied shares. Ms.

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 13 of 26 Page ID #:13

Choi-who never owned any shares of Allied previously-amassed hundreds of thousands of shares between January 2024 and July 2024. By July 5, 2024, Ms. Choi owned 310,063 shares in Allied. Ms. So, who was also a relatively new shareholder, also increased her holdings from 715,941 shares as of December 29, 2023 to 816,837 shares on July 5, 2024-an increase of nearly 15%. This rapid accumulation of shares by the Knighted Group coincided with the implementation of the Shareholder Rights Plan and (as noted) Knighted’s delivery of its amended Nomination Notice and a proposal to remove three Board members.

55. Simultaneous with Ms. So and Ms. Choi’s purchases, Knighted had been expanding its challenges to the Board’s business decisions to the courtroom, as another tactic to take control of the Company.

56. Knighted filed its first lawsuit against Allied in the Court of Chancery of the State of Delaware on March 7, 2024. Therein, Knighted challenged Allied’s December 2023 transaction with Elite Fun Entertainment Co. Ltd., a significant player in the Macau cultural and entertainment industry, which would help Allied expand its live events business in Asia (the “Elite Litigation”). Knighted also claimed that the Rights Plan-while it applied equally to all shareholders-was in fact, adopted for the benefit of Allied’s shareholder, Ourgame. Notably, in the course of that litigation, Knighted and its affiliates were privy to sensitive and confidential financial details about the Company that were obtained in discovery.

57. Allied and its Board at the time felt it more prudent that the shareholders be able to pass judgment on the Board’s business decisions at the ballot box, and mooted Knighted’s claims by taking various actions to unwind decisions that Knighted had challenged. Allied also provided a limited exemption to the Rights Plan to Knighted, to permit Knighted to purchase as many shares of Allied stock to make Knighted’s holdings even with Ourgame (which approximately held 11,986,523 shares). The Court of Chancery therefore granted Allied’s Motion to Dismiss (in part) on June 20, 2024.

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 14 of 26 Page ID #:14

58. Following the closure of the Elite Litigation, Knighted sent another 220 Demand to the Company (dated September 26, 2024), and then filed another Amended 13D with the SEC on October 1, 2024, reporting that Knighted and Mr. Choi collectively owned 11,986,423 shares of Allied, or 31.4% of the Company's shares, and filed a preliminary proxy statement for its proxy contest. Again, there was no mention of Roy Choi's mother and her significant stock purchases or Roy Choi's accountant and business venture partner, Rebecca So in Knighted's filings.

59. After Knighted filed its preliminary proxy statement, the Company responded on October 24, 2024, with a settlement proposal to Knighted's counsel regarding its willingness to enter into a cooperation agreement before a proxy contest. Specifically, Allied offered to expand the board by one director (from 8 to 9) and appoint a person of Knighted's choice as a Class A director. On October 31, 2024, Knighted responded refusing Allied's generous offer and instead demanding that Knighted appoint four new independent directors selected by Knighted and that five incumbent directors step down from the Company's seven-member Board, in addition to requiring the Company's dissolution of its recent strategic transaction with venture capital firm, Yellow River Global Capital ("Yellow River"). Knighted's demand for a complete takeover of the Board showcases its unwavering desire to seize control of the Company, whether through persistent demands, litigation, or the marketplace, and at any cost, even through coordinated and undisclosed Group share purchases.

60. Knighted's Amended 13D filing on November 14, 2024, maintained that Knighted and Choi beneficially held 11,986,423 total shares (just shy of the amount of shares held by Ourgame), and yet again did not disclose any other group members, including the more than 1 million shares collectively held by Ms. Choi and Ms. So.

61. In the meantime, Knighted filed yet another lawsuit against Allied and its Board in November 2024. That complaint challenged Allied's transaction with

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 15 of 26 Page ID #:15

Yellow River that the board had approved to facilitate the Company’s expansion into the esports market. Knighted’s suit contended that the transaction with Yellow River was designed to benefit the Company’s largest shareholder, Ourgame, and entrench the Company’s directors. Before filing this suit, Knighted did not file a section 220 demand to seek facts regarding the Yellow River Transaction, and during the suit, effectively conceded that it did not have facts to support its bald allegation that Ourgame and Yellow River were affiliated. No nexus between Yellow River and Ourgame was ever uncovered during the entirety of the litigation.

62. While pushing expedited litigation to challenge Allied Board’s approval of the Yellow River Transaction, Roy Choi was simultaneously scheming with his mother and his business partner to amass an overwhelming number of shares of Allied in anticipation of a future shareholder vote to put Roy Choi and his friends into power as directors of Allied.

63. Indeed, during the pendency of Knighted’s second litigation against Allied (when Knighted received sensitive and confidential financial information about Allied through discovery), Ms. So, Knighted’s former accountant, and Mr. Choi’s business partner, increased her ownership from 854,837 shares in March 2025 to 971,737 shares by early June 2025-acquiring nearly 117,000 shares of Allied’s stock in three months’ time.

64. Critically, at nearly the exact same time that Ms. So began adding to her common stock holdings in Allied, she was also seeking employment with an entity that Mr. Choi was intimately involved with as a board member. In fact, in March of 2025, Ms. So was named as the Chief Financial Officer of the company in which Mr. Choi served on the board (Studio-PM, Inc.).

65. Put differently, after being appointed as the CFO of Studio-PM, Inc.-a business venture Mr. Choi is actively involved with and serves as a board member-Ms. So began buying more shares of Allied, increasing her ownership by

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 16 of 26 Page ID #:16

nearly 15%. Therefore, based on information and belief, Mr. Choi has and continues to exercise influence over Ms. So and her purchases of Allied shares.

66. Roy Choi’s mother was even more aggressive in buying up Allied’s stock. From July 5, 2024 through March 6, 2025, Roy Choi’s mother amassed more than 1.1 million shares. During this time period, July 2024 through March 2025, the Company and its board of directors were actively litigating against her son and his controlled entity, Mr. Choi had publicly disclosed that he sought to be nominated and elected as a member of the Company’s board and he sought to control Allied through the election of his friends and the removal of Allied’s present board of directors. At the same time, the Rights Plan prevented Mr. Choi and Knighted from purchasing more shares.

67. Meanwhile, none of these buying efforts were publicly disclosed or made known to Allied or its shareholders. Roy Choi and Knighted continued their public refrain that they held slightly less common stock than Allied’s largest stockholder, but the concealed truth was that that through the coordinated efforts to buy stock with his mother and business partner, by May 15, 2025, Defendants had amassed a 37.8% interest in the Company.

68. By June 2, 2025-three weeks before the Company’s June 25, 2025 annual meeting record date-Defendants undisclosed group had amassed a 37.8% interest in the Company, while only telling Allied and its stockholders that they held less than Allied’s largest stockholder. Below is a chart showing the Knighted Group’s share purchases up to June 2, 2025.

CASE NO. 2:25-CV-05312

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 17 of 26 Page ID #:17

![img-0.jpeg](img-0.jpeg)

69. To be clear, Roy Choi and Knighted have never disclosed the purchases of Roy Choi's mother or his accountant / business partner. Despite the unquestionable familial and business ties between Ms. Choi and Mr. Choi, and the extensive business relationship between Ms. So and Mr. Choi, Defendants repeatedly filed Schedule 13Ds that purposefully and wrongfully excluded Ms. Choi and Ms. So.

70. The reason for Knighted's material omissions is simple: disclosing the Knighted Group would immediately trigger the provisions in the Rights Plan that is purposefully designed to protect Allied stockholders from precisely this conduct, namely, a stockholder or group of stockholders acquiring creeping control of the Company without paying a control premium. Properly disclosing the information on its Schedule 13D would cause the Rights Plan to be triggered thus causing the group's holdings to be diluted and rendering unachievable its intended goal-to cause Roy Choi to win his proxy contest against Allied and gain control of Allied's board of directors, and thus Allied's considerable assets for personal gain.

CASE NO. 2:25-CV-05312

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 18 of 26 Page ID #:18

71. Allied was not aware of this scheme until it discovered the massive increase in Naomi Choi's stock holdings. Specifically, Allied noticed that Ms. Choi had become the Company's third largest stockholder in less than a year. In fact, she owned zero stock in Allied prior to January 2024, and thereafter acquired approximately 310,000 shares before July 2024, and an additional 1.1 million shares between July 2024 and March 2025.

72. Allied necessarily assumed that Ms. Choi would be disclosed as part of the 13D group in the June 2, 2025, Notice of Stockholder Intent to Nominate Individuals for Election as Directors ("Knighted's Second Advance Notice"). A true and correct copy of Knighted's Second Advance Notice is included herewith as Exhibit 1. She was not mentioned at all in derogation of the Company's Bylaws' requirements.

73. At this time Allied also inquired of Ms. So, who had quietly amassed the fourth largest position in Allied behind Knighted and Ms. Choi. Allied was surprised to learn of Ms. So's considerable ties to Mr. Choi, including the coordinated buying of Allied stock between late 2023 and early 2024 (when Knighted announced its first proxy contest) and again following Ms. So's appointment to the CFO position at a company Mr. Choi is invested in and serves on the board. Ms. So's coordinated buying was also not disclosed in Knighted's Second Advance Notice.

74. Instead, Knighted submitted the Second Advance Notice (on the last day permitted under the Company's Bylaws) purporting to nominate three new Class C directors to the Board and present a business proposal at the annual meeting and disclosing only Mr. Choi, Knighted, and the proposed individuals Knighted sought to elect to Allied's board in order to secure complete control of Allied and its considerable assets.

75. Notably, the purpose of the advance notice requirement of the Company's bylaws is to allow the Company sufficient time to evaluate and respond

CASE NO. 2:25-CV-05312

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 19 of 26 Page ID #:19

to the material information relating to any director nominations and stockholder proposals presented at the Company’s annual meeting.

76. Surprised that Knighted’s Second Advance Notice failed to disclose the existence of the group coordinated in the effort to elect Knighted’s preferred slate, Allied sent a letter to Knighted on June 5, 2025, seeking clarification on Knighted’s justification for failing to disclose the group and thereby comply with all applicable requirements. A true and correct copy of the June 5, 2025 letter is included herewith as Exhibit 2.

77. On June 9, 2025, Roy Choi responded to Allied’s inquiry, defiantly asserting that his mother and his business partner he describes as a “fractional chief financial officer in a private company of which I am a stockholder” (failing to disclose PM Studios at all or that he is also a board member of that entity and in charge of Ms. So’s oversight) are not a group. He asserted, without support, that he has not engaged in “discussions with either my mother or Ms. So regarding how they intend to vote.” A true and correct copy of the June 9, 2025 response letter is included herewith as Exhibit 3. However, Mr. Choi’s response is tellingly silent as to whether he ever entered into any agreement, arrangement or understanding with Ms. So or Ms. Choi regarding the purchase of Allied shares, including whether Mr. Choi or his affiliates directly or indirectly financially assisted with those purchases.

78. Despite Mr. Choi’s non-responsive letter, the coordinated buying by Ms. Choi and Ms. So, in concert with Knighted’s aggressive litigation tactics and smear campaigns, speak volumes.

79. As beneficial owners of greater than 5% of Allied’s outstanding shares, Defendants were required to report their total securities holdings and all material changes thereto on Schedule 13Ds filed with the SEC pursuant to Exchange Act Section 13(d). These disclosure requirements are designed to provide the Company and its investors with adequate information regarding acquisitions that may result in a shift in corporate control.

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Case 2:25-cv-05312 Document 1 Filed 06/11/25 Page 20 of 26 Page ID #:20

80. Defendants have never disclosed the existence of a group as between them and continue to deny the existence of their group although the facts plainly demonstrate they acted together to purchase shares to facilitate Knighted’s efforts to gain control of the Company while evading the triggering of the Rights Plan. Indeed, as set forth above, the evidence strongly suggests that Defendants understood, planned, and/or agreed among themselves to work together toward a common goal including contemporaneous rapid accumulation of Allied stock. On information and belief, Defendants assisted each other in accumulating stock, financially or otherwise, and in concealing their group status in order to advance Knighted’s efforts to take control of the Company’s Board.

81. As a result of the Defendants’ withholding of information regarding their coordination and purpose, Knighted and Choi’s Schedule 13Ds remain incomplete and misleading and violate Section 13(d) of the Exchange Act. Moreover, Mr. Choi’s June 9, 2025 letter indicates that Defendants’ violations will continue absent an order compelling them to file accurate Schedules 13D.

82. Knighted’s continued denial of a group, contrary to the evidence, continues to prejudice the ability of the Company and its stockholders to receive, evaluate, and respond in a timely manner to all material information concerning the nomination by Knighted of its slate of directors, and therefore to conduct a fair proxy contest.

## COUNT I

## Violations of Section 13 of the Securities Exchange Act of 1934 (Against All Defendants)

83. Allied incorporates the foregoing paragraphs by reference as if fully set forth herein.

84. Section 13(d) of the Exchange Act requires that any stockholder (or group of stockholders) that acquires more than 5% of a company’s registered stock

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### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 17)**

**Allied Gaming & Entertainment Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.0001 per share**

*(Title of Class of Securities)*

**019170109**

*(CUSIP Number)*

**ROY CHOI**<br>KNIGHTED PASTURES, LLC<br>1933 S. Broadway Suite 1146<br>Los Angeles CA 90007<br>213-222-8589

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/11/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **019170109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Knighted Pastures LLC** | Name of reporting person<br>**Knighted Pastures LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**8906270.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**8906270.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8906270.00** | Aggregate amount beneficially owned by each reporting person<br>**8906270.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**23.4%** | Percent of class represented by amount in Row (11)<br>**23.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **019170109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Choi Roy** | Name of reporting person<br>**Choi Roy** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**11986423.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**11986423.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**11986423.00** | Aggregate amount beneficially owned by each reporting person<br>**11986423.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**31.5%** | Percent of class represented by amount in Row (11)<br>**31.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.0001 per share

**(b) Name of Issuer:**
Allied Gaming & Entertainment Inc.

**(c) Address of Issuer's Principal Executive Offices:**
745 FIFTH AVENUE, SUITE 500, NEW YORK, NY, 10151

The following constitutes Amendment No. 17 to the Schedule 13D filed by the undersigned ("Amendment No. 17"). This Amendment No. 17 amends the Schedule 13D as specifically set forth herein. Unless otherwise defined herein, all capitalized terms used herein shall have the meanings given to them in the Schedule 13D.  This Amendment No. 17 reflects a change in beneficial ownership solely as a result of a decrease in the number of outstanding shares of Common Stock (the "Shares") as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 9, 2025.

**Item 4. Purpose of Transaction**

Item 4 is hereby amended to add the following:

On June 11, 2025, the Issuer filed a lawsuit in the United States District Court for the Central District of California (the "Issuer Complaint") against the Reporting Persons and certain other third parties (collectively, the "Defendants"). The following description of the Issuer Complaint is qualified in its entirety by reference to the Issuer Complaint, which is attached as Exhibit 99.1 hereto and incorporated herein by reference. The Issuer Complaint alleges, among other things, that the Defendants (i) violated the reporting requirements of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and (ii) failed to comply with the advance notice provisions set forth in the Issuer's Amended and Restated Bylaws governing the submission of nominations and proposals for the combined 2024/2025 annual meeting. The gravamen of the Issuer Complaint is that Defendants failed to disclose the existence of a "group" within the meaning of Section 13(d) of the Exchange Act. The Issuer seeks permanent injunctive relief and damages. The Reporting Persons do not believe the Issuer is entitled to any relief and intend to defend themselves vigorously.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5(a) is hereby amended and restated to read as follows:

The aggregate percentage of Shares reported owned by each person named herein is based upon 38,018,882 Shares outstanding as of May 29, 2025, which is the total number of Shares outstanding as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 9, 2025.

As of the date hereof, Knighted directly beneficially owned 8,906,270 Shares, constituting approximately 23.4% of the Shares outstanding.

As of the date hereof, Mr. Choi, as the Chief Executive Officer and Manager of Knighted, may be deemed to beneficially own the 8,906,270 Shares owned by Knighted, and directly beneficially owns 3,080,153 Shares, constituting approximately 31.5% of the Shares outstanding.

The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

**(b)**
—

**(c)**
Item 5(c) is hereby amended and restated to read as follows:

There have been no transactions in the securities of the Issuer by the Reporting Persons since the filing of Amendment No. 16 to the Schedule 13D.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 is hereby amended to add the following:

Reference is made to the Issuer Complaint as defined and described in Item 4 above and attached as Exhibit 99.1 hereto.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Knighted Pastures LLC

**Signature:** /s/ Roy Choi

**Name/Title:** Roy Choi, Manager

**Date:** 06/12/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Choi Roy

**Signature:** /s/ Roy Choi

**Name/Title:** Roy Choi

**Date:** 06/12/2025