OverActive Media Corp, the parent company of MAD Lions, Toronto Ultra, and Toronto Defiant, has announced it will begin trading on the TSX Venture Exchange (TSXV).
OverActive has become the latest esports organisation to become publicly listed, joining the likes of Guild Esports (London Stock Exchange), Enthusiast Gaming (TSX and Nasdaq), Esports Entertainment Group (Nasdaq) and GameSquare Esports (OTC Markets), among others.
On July 9th, OverActive Media completed a qualifying translation with capital pool company Abigail Capital Corporation. This saw a reverse takeover of Abigail occur by the shareholders of OverActive.
OverActive amalgamated with a wholly-owned subsidiary of Abigail, which is now called OverActive Media Holdings, to facilitate the completion of the transaction.
As a result, Abigail has changed its name to OverActive Media Corp and will trade on the TSXV under the ticker ‘OAM’.
Chris Overholt, OverActive’s President and CEO, added: “We are building a leading 21st century sports, media and entertainment company with esports at its core.
“Today marks an exciting and important milestone, as investors can now easily own a part of OverActive, a leader in the rapidly growing global esports and entertainment industry. I’m proud to be a part of a board and management group with a shared commitment to driving sustainable value creation for our shareholders and excitement to our fans.”
The last 12 months have been prosperous for OverActive. Alongside the company’s competitive successes, OverActive has announced plans to build a 7,000-seat esports venue, pending approvals from the City of Toronto, and has secured over $40m in funding.
Esports Insider says: This is an exciting time for OverActive Media as the organisation joins a growing list of publicly listed esports companies. It’ll be interesting to see how the organisation fares on the TSX Venture Exchange and whether this move proves to be fruitful for OverActive.