Mobile Global Esports Inc MGAM shares are soaring Monday on post-IPO volatility.
Mobile Global Esports announced the pricing of its IPO on Friday. The company is offering 1.5 million common shares at a public offering price of $4 per share, for gross proceeds of approximately $6 million. The offering is expected to close on Tuesday.
Mobile Global Esports is a mobile esports company with an esports and social platform that includes proprietary compression technology, as well as holding trademark and IP rights for collegiate esports tournaments and players in India.
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The stock is trending across social media platforms today. It was among the top trending tickers on Stocktwits at last check.
MGAM Price Action: Mobile Global Esports traded as high as $20.74 before pulling back.
The stock was up 57.8% at $17.66 at press time, according to data from Benzinga Pro.
Photo: Yves Sorge from Flickr.
Image and article originally from www.benzinga.com. Read the original article here.