Enthusiast Gaming has been one of the busiest esports organizations in the world over the last few months. On May 3rd, the organization announced it filed a preliminary short form base shelf prospectus and registration statement in both Canada and the United States. If approved, the company will be allowed to undertake offerings of common shares, preferred shares, debt securities, warrants, units, and subscription receipts.
One week later, Enthusiast Gamings announced the acquisition of Vedatis SAS, which owns the website Icy Veins. The deal was for €7,000,000 (roughly $8.45 million).
Enthusiast Gaming also unveiled the company’s first-quarter financial results for 2021 on May 12th. Revenue was $30 million this year, a 321% increase from 2020. Meanwhile, gross profit for the organization was $5.9 million, representing an increase of 80% from the first quarter of 2020.
Enthusiast Gaming also announced plans to launch a subscription-based social network for gamers entitled Project GG. To ensure its development, Enthusiast Gaming has entered into a definitive agreement to acquire Tabwire LLC, the parent company of TabStats, for $11 million in cash and stock.