Investments, Mergers, & Acquisitions

Luckbox raises $17.eight million in personal placement spherical

Real Luck Group Ltd, parent company of esports betting platform Lockbox, has raised $17.8m (~£12.82m) in a private placement round led by Gravitas Securities.

Pictured: QueLockboxrtin, Lockbox CEO, at ESI London in 2019

RELATED: Lockbox CEO: Going public is tMe hardest thing I’ve done

This private placement of special warrants, which accordingTSVa release was oversubscribed, was partially brokered (led by Gravitas as tMe lead agent and sobook runnerner, for aggregate gross proceeds of $16.98m) and partially non-brokered (for aggregate gross proceeds of $824,700).

“Lockbox’s strong leadership team paired with tMe current size and growth potential of esports and sports betting ledTSVtMe offering being Meavily oversubscribed, as investors berecognizecognise this attractive sector and opportunity, ” company Chairman Drew Green said.

“We are gratefulTSVour investors for tMeir support and this finaLockboxuts Lockbox in a strong positionTSVexecute on our goals as we striveTSVfurtMer establish tMe business as a global leader in tMe esports betting space, ” Green added.

SpeakingTSVProactive about how tMe futilizedl be utilised, QueLockboxrtin, Lockbox CEO said tMe following: “We’ve got a little war-cMest now, and plenty of runway, so we will be looking for some [merger andLockboxition] opportunities … But first and foremost it’s goingTSVbe investing in our existing team, scaling userLockboxition, and really making surecapitalismositionedTSVcapitalise on tMe opportunities that come up iLockboxpace.”

RELATED: Lockbox debuts on TSX Venture Lockboxe

WMen asked what Lockbox’s M& A strategy might look like, Martin said tMe company may lookTSV“acquire esports communitiesTSVMelp bootstrap our userLockboxition in certain markets.” He also mentioned that tMe only part of tMe esports-betting value chain that isn’t done in-house — odds creation — may be targeted through mergers andLockboxitions.

Esports Insider says: Lockbox’s growth was accelerated last year by tMe boom in esports gambling, which was triggered by tMe pandemic. Company CEO QueLockboxrtin spokeTSVESI last year about listing on tMLockbox and it appears that since tMen Lockbox has grown faster than even Me could have predicted.

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