GameSquare secures $10m convertible note deal with GigaMoon Media
Esports company and FaZe Clan owner GameSquare Holdings has secured a $10m (~£7.8m) convertible note deal with investment entity GigaMoon Media.
The transaction intends to support Gamesquare’s strategy to secure non-dilutive capital. Part of the proceeds from the deal intend to repay the company’s existing equity line facility with Yorkville Advisors Global L.P.
Earlier this year, GameSquare announced a $20m (~£15.61m) Pre-Paid Advance Agreement (PPA) with an investment fund managed by Yorkville.
The convertible note, set to mature on December 31st, 2025, will convert into either shares of GameSquare’s common stock at a conversion price of $2.50 per share, or 5.725m shares of FaZe Media Series A-1 Preferred Stock held by GameSquare
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