Motorsport Games Inc - Ordinary Shares - Class A

NASDAQ:MSGM   1:07:11 PM EDT
0.61
+0.01 (+1.25%)
Debt Financing / Related, Restructuring / Reorganization, Equity Financing / Related

Motorsport Games Announces Transformative 2022 Restructuring Program, Financing Commitment And Plans For Reverse Stock Split

Published: 09/08/2022 13:07 GMT
Motorsport Games Inc - Ordinary Shares - Class A (MSGM) - Motorsport Games Announces Transformative 2022 Restructuring Program, Financing Commitment and Plans for Reverse Stock Split.
Motorsport Games Inc - Executed a Support Agreement With Its Majority Stockholder, Motorsport Network, Llc.
Motorsport Games Inc - Motorsport Network Recently Paid a $3 Million Cash Advance to Motorsport Games Under Terms of Parties' Pre-existing Line of Credit.
Motorsport Games Inc - Plans to Effect a 1-for-10 Reverse Stock Split During Q4 of 2022.
Motorsport Games Inc - Motorsport Network Agreed to Exercise Its Combined 94% Voting Power to Support Reverse Stock Split.
Motorsport Games Inc - Expects to Eliminate Approximately 20% of Its Overhead Costs Worldwide.
Motorsport Games Inc - 2022 Restructuring Program Includes Right-sizing Organization.