LUCKBOX RAISES $17.8M IN HEAVILY OVERSUBSCRIBED PRIVATE PLACEMENT DEAL

TSXV-listed Real Luck Group Ltd, operator of esports-first betting platform Luckbox, has raised $17.8M in a private placement deal. 

The previously announced, upsized, and oversubscribed, private placement of special warrants of the company consisted of a brokered portion, raising $16,980,080.40, and a non-brokered portion, raising $824,700. The Brokered Private Placement was conducted by Gravitas Securities Inc. 

Commenting on the news Company Chairman, Drew Green, said: “Luckbox’s strong leadership team paired with the current size and growth potential of esports and sports betting led to the Offering being heavily oversubscribed, as investors begin to recognize this attractive sector and opportunity. 

“We are grateful to our investors for their support and this financing puts Luckbox in a strong position to execute on our goals as we strive to further establish the business as a global leader in the esports betting space.”

While Real Luck Group CEO, Quentin Martin, speaking to Proactive, said: “We saw tremendous interest in this offering, which was upsized from $5 million to $15 million and still heavily oversubscribed, and we would like to take this opportunity to thank all of our investors for the support and belief in our company. 

“This financing puts us in a strong position to execute on our growth strategy to further establish Luckbox as a global leader in the esports betting space. 

“On behalf of Luckbox, I’d like to thank you for your continued support.  I look forward to providing future updates about how we are capitalizing on the opportunity in front of us.”

AYO.NEWS says:

Luckbox is becoming something of a barometer for the health of the esports betting market – and the degree to which this private placement was oversubscribed indicates the confidence in the market, despite the wider woes of the world. 

Last month, AYO.NEWS’ very own Simona Pinterova caught up with Luckbox CEO, Quentin Martin, to find out how things have gone since Real Luck Group listed on the TSX Venture Exchange in December 2020. 

Staying with Real Luck Group, last week the company became the latest member of the Canadian Gaming Association (CGA).