FreeCast Raises $23.7M in Private Placement of Stock & Warrants

Key Highlights

• FreeCast raised approximately $23.7 million in gross proceeds from a private placement.
• The private placement included 4,666,667 shares of Class A common stock.
• It also included pre-funded warrants to purchase 3,243,807 shares of common stock.
• The securities were sold at a purchase price of $3.00 per share of common stock and pre-funded warrant.
• Net proceeds will be used for working capital and general corporate purposes.
• Pre-funded warrants are subject to shareholder approval, to be obtained via written consent.
• The company agreed to a lock-up on new equity issuance for a period after the registration statement becomes effective.
• A.G.P./Alliance Global Partners served as the sole placement agent for the offering.