Gaming Innovation Group Inc. Expands Share Capital with New Issuance of Common Stock
Gaming Innovation Group Inc. has announced the issuance of 53,600 new shares of its common stock. This issuance is connected to the exercise of options, with 30,500 shares being issued at a share price of NOK 15.00 and 23,100 shares at NOK 22.00 per share.
Authorization and Issuance Details
The company confirms that these new shares have been fully authorized by all necessary corporate actions and have been fully paid and validly issued. This action increases the company’s share capital from USD 128,949,561 to USD 129,003,161. Concurrently, the total number of outstanding shares has risen from 128,949,561 to 129,003,161, each with a par value of USD 1.00.
Utilization of Authorized Shares
The new shares have been issued by the board of directors under the company’s existing authorization for 150,000,000 shares. As of the date of the announcement, there are also 2,361,450 options outstanding.
This news was officially announced on December 21, 2023.
Our Comment on the Article
The issuance of new shares by Gaming Innovation Group Inc. is a strategic move that reflects the company’s ongoing growth and expansion plans. By utilizing its authorized share capacity, the company demonstrates confidence in its future prospects and commitment to leveraging its financial resources for further development. This increase in share capital and outstanding shares could potentially lead to a broader shareholder base, enhancing the company’s market presence and financial stability.
