Enthusiast Gaming Prepares for a NASDAQ Listing

Enthusiast Gaming announced Monday that it has put plans in motion to become a publicly-traded company in the United States on the NASDAQ stock exchange. The company, which is publically listed on the Toronto Stock Exchange, owns Overwatch League franchise Vancouver Titans, Call of Duty League team Seattle Surge, and esports organization Luminosity Gaming.

The company said that it has “applied for and is in the process of preparing for a listing of its common shares” on the NASDAQ. In addition, it has filed a Form 40-F Registration Statement with the United States Securities and Exchange Commission (SEC).

Enthusiast believes this listing on the U.S. exchange will  broaden its investor base, increase the company’s visibility, and enhance its brand in the U.S. and attract more “partnership, sales, and M&A opportunities.”

Enthusiast will continue to be traded on the Toronto Stock Exchange. The NASDAQ listing is subject to regulatory and exchange review and approval.

In August, Enthusiast entered into a binding agreement to acquire Los Angeles-based media company Omnia Media for roughly $45.5M CAD ($34.1M USD). The company also entered into an agreement for $15M CAD ($11.25M) in financing with a syndicate of underwriters led by Canaccord Genuity Corp. 

In October, the company signed popular streamer Félix “xQc” Lengyel to its creators roster and launched the second edition of its esports reality show Rising Stars, with Twitch serving as the official broadcast partner. The deal was negotiated on behalf of Lengyel by Evolved Talent Agency.