Motorsport Games to offer 2.35 million shares in IPO, priced at $16 to $18 each

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Motorsport Games, a Miami-based developer of motorsport racing series including Nascar, set terms for its initial public offering on Wednesday, with plans to offer 2.35 million shares priced at $16 to $18 each. The company would raise $42.3 million at the top of that range. The company has applied to list on Nasdaq, under the ticker “MSGM” and will adopt a dual-class structure with Call A shares and Class B shares, in which the former will carry one vote per share and the latter 10 votes per share. Canaccord Genuity and Benchmark are joint bookrunners. Proceeds will be used for working capital and general corporate purposes, which could include paying down debt or acquisitions and investments.
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