GameSquare Holdings Stock Is Surging Wednesday: What's Going On?
GameSquare Holdings Inc (NASDAQ:GAME) shares are soaring Wednesday as the company prepares to host a conference call to review its Ethereum (CRYPTO: ETH) treasury strategy.
What To Know: GameSquare will discuss its previously announced Ethereum strategy on a conference call scheduled for 12 p.m. ET. The company believes its strategy can deliver more than $10 million of incremental annual profitability.
GameSquare CEO Justin Kenna, Dialectic founder Ryan Zurrer and Goff Capital’s Rhydon Lee will provide an overview of Dialectic’s proprietary Ethereum yield strategy. Dialectic is a Swiss capital firm focused on alternative assets.
The news comes after GameSquare announced an offering last week and said it intends to use the proceeds to launch an Ethereum strategy. GameSquare priced the underwritten offering of approximately 8.42 million shares at 95 cents per share for gross proceeds of approximately $8 million.
“After last week’s highly successful capital raise and investment in ETH, we are excited to share more details on our treasury strategy and showcase the exciting opportunity ahead,” Kenna said.
“We believe our relationship with Dialectic and new treasury management program deserves to be evaluated not just as a balance sheet investment, but as a yield-generating business vertical with real cash flow. It materially strengthens our valuation profile and reinforces our positioning at the intersection of media, gaming, technology and digital assets.”
Multiple companies have announced Ethereum strategies in recent months, including BitMine Immersion Technologies, SharpLink Gaming, Bit Digital and BTCS Inc.
GAME Price Action: GameSquare shares were up 59.3% at $2.40 at the time of publication Wednesday, according to Benzinga Pro.
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