North American esports organisation Enthusiast Gaming has announced its intention to list shares on the NASDAQ, as the company aims to expand its shareholder base and increase development.
As such, the organisation, which owns Luminosity Gaming, Overwatch League franchise Vancouver Titans, and Call Of Duty League side Seattle Surge, has filed a Registration Statement on Form 40-F with the United States Securities and Exchange Commission (SEC).
Form 40-F being declared effective by the SEC is a requirement for the organisation to list common shares on the NASDAQ. Enthusiast Gaming is already on the Toronto Stock Exchange, as well as the OTCQB, which is an American mid-tier equity market.
“While we are very much a global company, the US remains our most prominent source of audience and revenue. Naturally, a US registration is a significant milestone for the company,” commented Adrian Montgomery, CEO of Enthusiast Gaming.
“We are the largest gaming media platform in North America and believe a NASDAQ listing will allow us to enlarge our shareholder base and accelerate our growth strategy, including our M&A [merger and acquisition] roadmap. This registration statement is a final step towards a NASDAQ listing.”
Enthusiast Gaming has a significant operational presence in the US and Canada, through the ownership of esports franchises and other entities. Last month, it was revealed that the organisation was set to acquire news and strategy guide platform Icy Veins for €7m (~£5.99m). As of this writing, confirmation of the purchase has yet to be announced.
Esports Insider says: For big entities such as Enthusiast Gaming, having a way to increase its revenue and incoming investment opportunities is a good thing. Having strong organisations like Luminosity Gaming, Vancouver Titans and Seattle Surge in the company’s portfolio will also certainly help motivate investors to buy company shares.