BuybackApr 23, 2026, 05:17 PM
Motorsport Games Repurchases 904,395 Class A Shares, Cancels 700K Class B
AI Summary
Motorsport Games Inc. has entered into a Share Repurchase Agreement with Driven Lifestyle Group LLC to buy back 904,395 shares of its Class A Common Stock. As a result of this transaction, 700,000 shares of Class B Common Stock held by Driven Lifestyle Group LLC will be relinquished and cancelled. This cancellation is in accordance with the company's Certificate of Incorporation, which mandates the relinquishment of Class B shares upon the transfer of corresponding 'Initial Class A Shares'.
Key Highlights
- Motorsport Games to repurchase 904,395 Class A Common Stock shares.
- Driven Lifestyle Group LLC is the seller in this agreement.
- 700,000 Class B Common Stock shares will be relinquished and cancelled.
- Cancellation is triggered by the transfer of 'Initial Class A Shares'.