Certain Common Stock of EBET, Inc. are subject to a Lock-Up Agreement Ending on 8-MAY-2023.
May 07, 2023
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Certain Common Stock of EBET, Inc. are subject to a Lock-Up Agreement Ending on 8-MAY-2023. These Common Stock will be under lockup for 91 days starting from 6-FEB-2023 to 8-MAY-2023.
Details:
The Company's directors and officers entered into lock-up agreements. Under these agreements, these individuals agreed, subject to specified exceptions, not to sell or transfer any shares of common stock or securities convertible into, or exchangeable or exercisable for, common stock during a period ending 90 days after the closing date of this offering, without first obtaining the written consent of the placement agent. In addition, subject to certain exceptions, The Company agreed not to (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of common stock (or securities convertible into or exercisable for common stock), (ii) file any registration statement or any amendment or supplement (other than the prospectus supplement, registration statement or amendment to the registration statement relating to the securities offered hereunder), (iii) complete any offering of debt securities, (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of capital stock of, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of shares of capital stock or such other securities, in cash or otherwise or (v) enter into a Variable Rate Transaction (as defined in the Placement Agent Agreement) until 90 days after the closing date of this offering.
EBET, Inc. operates platforms to provide a real money online gambling experience focused on i-gaming, including casino, sportsbook, and esports events. The Company operates under a Curacao gaming sublicense and under a strategic partnership with Aspire Global plc (Aspire), allowing the Company to provide online betting services to various countries around the world. The Company operates online casino and sportsbook brands consisting of Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. It operates six online wagering brands, through Websites and mobile applications, where it accepts deposits and funds from its customers and offer its customers the ability to use those funds to wager on slot and table games, live casino games as well as virtual sport computer simulated games and sports betting. The Company is focused on bringing better i-gaming products to market in order to cater to the Millennial and Gen-Z demographics in the wagering space.