Millennial Esports, the company behind Las Vegas’ first dedicated esports arena has announced that it has secured $2 million in investment.
The company has revealed that it has raised the $2 million (£1.61 million) through non-brokered private placement of shares at a price of $0.15 (£0.12) per “unit”. The total amount of units allocated is 13,333,333. Each unit is defined as one common share of the company, and half of a common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share of Millennial, two years from the date of issuance at a price of $0.20 (£0.16).
Millennial Esports is best known for “thE Arena”, Las Vegas’ first permanent esports arena and studio. It’s a 15,000 square foot facility located on Fremont Street at the Neonopolis in Downtown Las Vegas. It recently played host to an EA Challenger sanctioned Madden 17 event and opened with the NA Halo World Championship qualifier at the beginning of March.
In addition, Millennial provides a broad spectrum of turnkey solutions that cover gaming technology, event management and production and broadcasting to give publishers, brands and partners exposure to the much coveted millennial demographic.