GameSquare Announces Pricing of Underwritten Public Offering to Launch Ethereum Treasury Strategy
GameSquare (NASDAQ:GAME) has announced a strategic shift in its treasury management with a $100 million Ethereum-based strategy. The company has priced an underwritten public offering of 8,421,054 shares at $0.95 per share, expecting to raise approximately $8.0 million in gross proceeds.
The company has partnered with Dialectic, a crypto investment firm, to implement an ETH-focused yield generation strategy using their Medici platform. The strategy targets yields of 8-14%, significantly higher than standard ETH staking returns of 3-4%. The initiative includes potential diversification into stablecoins and NFTs, with multi-layered risk management protocols.
Lucid Capital Markets is serving as the sole book-runner, with a 45-day option to purchase an additional 1,263,157 shares. The offering is expected to close around July 9, 2025.
GameSquare (NASDAQ:GAME) ha annunciato un cambiamento strategico nella gestione della tesoreria con una strategia basata su Ethereum da 100 milioni di dollari. La societ脿 ha fissato il prezzo di un'offerta pubblica sottoscritta di 8.421.054 azioni a 0,95 dollari per azione, prevedendo di raccogliere circa 8,0 milioni di dollari di proventi lordi.
La societ脿 ha stretto una partnership con Dialectic, una societ脿 di investimento in criptovalute, per implementare una strategia di generazione di rendimenti focalizzata su ETH utilizzando la loro piattaforma Medici. La strategia mira a rendimenti dell'8-14%, significativamente superiori ai rendimenti standard dello staking ETH del 3-4%. L'iniziativa prevede anche una possibile diversificazione in stablecoin e NFT, con protocolli di gestione del rischio multilivello.
Lucid Capital Markets funge da unico book-runner, con un'opzione di 45 giorni per acquistare ulteriori 1.263.157 azioni. La chiusura dell'offerta 猫 prevista intorno al 9 luglio 2025.
GameSquare (NASDAQ:GAME) ha anunciado un cambio estrat茅gico en la gesti贸n de su tesorer铆a con una estrategia basada en Ethereum de 100 millones de d贸lares. La compa帽铆a ha fijado el precio de una oferta p煤blica suscrita de 8.421.054 acciones a 0,95 d贸lares por acci贸n, esperando recaudar aproximadamente 8,0 millones de d贸lares en ingresos brutos.
La empresa se ha asociado con Dialectic, una firma de inversi贸n en criptomonedas, para implementar una estrategia de generaci贸n de rendimiento centrada en ETH utilizando su plataforma Medici. La estrategia apunta a rendimientos del 8-14%, significativamente m谩s altos que los retornos est谩ndar del staking de ETH del 3-4%. La iniciativa incluye una posible diversificaci贸n en stablecoins y NFT, con protocolos de gesti贸n de riesgos en m煤ltiples capas.
Lucid Capital Markets act煤a como 煤nico book-runner, con una opci贸n de 45 d铆as para adquirir 1.263.157 acciones adicionales. Se espera que la oferta cierre alrededor del 9 de julio de 2025.
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GameSquare (NASDAQ:GAME) a annonc茅 un changement strat茅gique dans la gestion de sa tr茅sorerie avec une strat茅gie bas茅e sur Ethereum de 100 millions de dollars. La soci茅t茅 a fix茅 le prix d'une offre publique souscrite de 8 421 054 actions 脿 0,95 dollar par action, s'attendant 脿 lever environ 8,0 millions de dollars de produits bruts.
L'entreprise s'est associ茅e 脿 Dialectic, une soci茅t茅 d'investissement en cryptomonnaies, pour mettre en 艙uvre une strat茅gie de g茅n茅ration de rendement ax茅e sur l'ETH via leur plateforme Medici. La strat茅gie vise des rendements de 8 脿 14%, nettement sup茅rieurs aux rendements standards du staking ETH de 3 脿 4%. L'initiative inclut une diversification potentielle vers les stablecoins et les NFT, avec des protocoles de gestion des risques 脿 plusieurs niveaux.
Lucid Capital Markets agit en tant que seul chef de file, avec une option de 45 jours pour acheter 1 263 157 actions suppl茅mentaires. La cl么ture de l'offre est pr茅vue aux alentours du 9 juillet 2025.
GameSquare (NASDAQ:GAME) hat eine strategische Neuausrichtung im Treasury-Management mit einer 100 Millionen Dollar Ethereum-basierten Strategie angek眉ndigt. Das Unternehmen hat eine 枚ffentlich unterzeichnete Emission von 8.421.054 Aktien zu je 0,95 Dollar bepreist und erwartet Bruttoerl枚se von etwa 8,0 Millionen Dollar.
Das Unternehmen hat eine Partnerschaft mit Dialectic, einer Krypto-Investmentfirma, geschlossen, um eine ETH-fokussierte Ertragsstrategie 眉ber deren Medici-Plattform umzusetzen. Die Strategie zielt auf Renditen von 8-14% ab, deutlich h枚her als die 眉blichen ETH-Staking-Renditen von 3-4%. Die Initiative beinhaltet potenzielle Diversifikation in Stablecoins und NFTs sowie mehrschichtige Risikomanagementprotokolle.
Lucid Capital Markets agiert als alleiniger Bookrunner mit einer 45-t盲gigen Option zum Kauf von zus盲tzlich 1.263.157 Aktien. Der Abschluss der Emission wird f眉r etwa 9. Juli 2025 erwartet.
- Board approval for significant $100 million Ethereum allocation
- Partnership with Dialectic targeting 8-14% yields, substantially higher than 3-4% ETH staking benchmarks
- Strategic expansion into crypto assets with professional risk management protocols
- Additional 45-day option for underwriter to purchase more shares indicates confidence
- Significant dilution through 8.4 million new shares at $0.95 per share
- High-risk exposure to volatile crypto assets through treasury strategy
- Initial raise of $8 million is relatively small compared to $100 million ETH allocation goal
Insights
GameSquare's $8M raise to launch a $100M Ethereum treasury strategy represents a significant, though risky, financial pivot toward crypto-native yield generation.
GameSquare's announced
The partnership with Dialectic to utilize their Medici platform indicates GameSquare is attempting to leverage sophisticated crypto-native yield generation rather than simply holding Ethereum as a reserve asset. This represents a high-risk, high-reward financial strategy that diverges significantly from conventional corporate treasury management. While potentially offering superior returns, this approach exposes the company to substantial cryptocurrency market volatility and regulatory uncertainty.
The offering price of
Despite management's optimistic framing, this strategy represents a speculative pivot that ties GameSquare's financial health more closely to cryptocurrency markets. This transition from a pure gaming/media company to one with significant crypto exposure fundamentally changes its risk profile and may signal challenges in its core business that are driving this unorthodox treasury approach.
GameSquare's entry into Ethereum-based treasury management represents a strategic pivot toward institutional crypto adoption. The planned
Dialectic's Medici platform employs machine learning and automated optimization to target yields of
The mention of potentially incorporating stable coins and NFTs suggests a diversified approach across the Ethereum ecosystem rather than a single-strategy implementation. This indicates a more comprehensive DeFi strategy that could provide both risk mitigation and yield enhancement.
For a NASDAQ-listed company to allocate substantial treasury assets to crypto yield strategies represents a notable institutional adoption milestone. However, the timing coincides with increasingly complex regulatory scrutiny around crypto activities. GameSquare will need to navigate evolving securities regulations, especially regarding yield-generating activities that might trigger regulatory attention.
This treasury strategy fundamentally transforms GameSquare's investment profile from a pure gaming/media play to a hybrid entity with significant cryptocurrency exposure. Investors will now need to evaluate the company through both traditional metrics and crypto market dynamics, potentially attracting different investor profiles while potentially alienating others.
GameSquare's Board approves
Initial investment fuels GameSquare's strategic alliance with Ryan Zurrer and Dialectic to deploy Ethereum-native yield strategy
FRISCO, TEXAS / / July 8, 2025 / GameSquare Holdings, Inc. (NASDAQ:GAME), ("GameSquare", or the "Company"), a next-generation media, entertainment, and technology company, today announced the pricing of its previously announced underwritten public offering for the sale of 8,421,054 shares of common stock (or common stock equivalents) at a price of
"Today's announcement reflects the confidence of a proven group of high-quality investors and leaders in decentralized finance," said Justin Kenna, CEO of GameSquare. "We've partnered with one of the world's top crypto investment firms to generate real, on-chain yield while deepening our expertise in decentralized finance, pursuing new revenue streams, and strengthening our balance sheet."
"This new treasury management strategy enhances our financial flexibility and allows us to support a defined capital allocation plan that is focused on pursuing additional ETH asset purchases, funding potential share repurchases and reinvesting in our growth initiatives," added Kenna.
GameSquare's ETH-focused yield generation strategy is built on top of Dialectic's proprietary platform Medici, which applies machine learning models, automated optimization, and multi-layered risk controls to generate best-in-class risk-adjusted returns. Targeted yields of 8
Dialectic's program includes multi-layered risk management protocols that are widely recognized as the best risk adjusted yields in DeFi. GameSquare's new Ethereum focused treasury vehicle may also incorporate additional yield generating strategies across the Ethereum ecosystem, potentially utilizing assets such as stable coins and non-fungible tokens to diversify and amplify returns.
GameSquare's Board has approved an ETH allocation of up to
"Our crypto strategy reinforces our existing foundation in gaming, technology, and media, and is aligned with the broader trend of institutional adoption of digital assets," Kenna continued. "Our strategic partnership with leaders in the crypto space including Ryan Zurrer of Dialectic and Rhydon Lee of Goff Capital is just getting started and I am excited to update investors on the quick progress we are making."
Lucid Capital Markets is acting as the sole book-running manager for the offering.
In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 1,263,157 shares of its common stock (or common stock equivalents) at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about July 9, 2025, subject to customary closing conditions.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission ("SEC") on March 4, 2025, and declared effective by the SEC on June 4, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. A final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th Floor, New York, NY 10022.
About GameSquare Holdings, Inc.
GameSquare's (NASDAQ: GAME) mission is to revolutionize the way brands and game publishers connect with hard-to-reach Gen Z, Gen Alpha, and Millennial audiences. Our next generation media, entertainment, and technology capabilities drive compelling outcomes for creators and maximize our brand partners' return on investment. Through our purpose-built platform, we provide award winning marketing and creative services, offer leading data and analytics solutions, and amplify awareness through FaZe Clan Esports, one of the most prominent and influential gaming organizations in the world. With one of the largest gaming media networks in North America, as verified by Comscore, we are reshaping the landscape of digital media and immersive entertainment.
To learn more, visit .
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company's future performance, revenue, growth and profitability; and the Company's ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company's ability to grow its business and being able to execute on its business plans, the success of Company's vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company's ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company's portfolio across entertainment and media platforms, dependence on the Company's key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company's most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Corporate Contact
Lou Schwartz, President
Phone: (216) 464-6400
Email: [email protected]
Investor Relations
Andrew Berger
Phone: (216) 464-6400
Email: [email protected]
Media Relations
Chelsey Northern / The Untold
Phone: (254) 855-4028
Email: [email protected]
SOURCE: GameSquare Holdings, Inc.
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