Motorsport Games is now the official developer and publisher of the Nascar videogame racing franchise. The increased terms were disclosed in an S-1/A filing dated Jan. 11, 2021. The Miami-based racing game developer now expects to offer 3 million shares in the IPO, up from plans to offer 2.35 million shares disclosed on Jan. 6, as the company now looks to raise up to $60 million. Miami-based Motorsport is scheduled to sell shares to the public on Tuesday. The company develops and distributes licensed esports racing video games worldwide. 06:54 AM ET. Initial Public Offering. Motorsport Games is a developer and publisher of multi-platform racing games including for personal computers, game consoles, and mobile platforms. He tried to take both my stimulus checks, Disney fan complains that Walt Disney World is becoming too ‘woke’ — here’s what’s changed at the park and why, These 3 alternative income streams may boost portfolio returns. © Copyright 2021 Market Realist. Motorsport Games has filed to raise $40 million from the sale of its Class A stock in an IPO, according to an amended registration statement. Motorsport Games is the official developer and publisher of the Nascar video-game franchise. Canaccord Genuity Acts as Left Bookrunner for Motorsport Games’ $69 Million Initial Public Offering. The firm is a developer of racing game series for … First Day Return: 75%. Motorsport Games will have about 16.35 million outstanding shares after the IPO. Sushrut Vadalkar. The Motorsport Games IPO has the company offering up 3 million shares of MSGM stock. The … The article Racing game developer Motorsport Games prices IPO at $20, the high end of the upwardly revised range originally appeared on IPO … The Miami, FL-based company now plans to raise $59 million by offering 3 million shares at a price range of $19 to $20. Priced at the high end of its expected range, shares sold for $20 apiece, for a deal size of $60 million. During the first days of trading, share prices spiraled from $20 to $30 per share (+50%), which eventually led to the market cap of $510m. The global market will likely be more than $256 billion by 2025, according to a Mordor Intelligence market research report. The proceeds will be used for further expansion into the mobile space, development of racing MSG engine, repayment of $10.4m outstanding debt, as well as potential acquisitions Warren Buffett warns investors not to gamble on stocks, Here’s how much the 2021 NFL draft picks will earn on their rookie contracts, Uber, Lyft and DoorDash stocks plunge after Biden’s labor secretary says ‘in a lot of cases, gig workers should be classified as employees’. There’s also a 30-day option for underwriters of the IPO to … Motorsport Games IPO Info. Motorsport Games intends to use the IPO net proceeds for “working capital and general corporate purposes, including product development, such as for mobile products and additional racing series, the buildout of APEX, our go-to destination for the virtual racing community, the development of our proprietary racing-focused gaming engine, which we refer to as the ‘MSG Engine,’ sales and marketing … Today's IPO for Motorsport Games Inc. (NASDAQ: MSGM) opened for trading at $35 after pricing 3,000,000 shares of its Class A common stock at a public offering price of $20. -0.72% Motorsport Games was listed on the Nasdaq Wednesday and raised $60 million in an initial public offering, funds the auto racing game developer will use to create new games … Canaccord Genuity LLC and The Benchmark Company, LLC, served as underwriters in the initial public offering (IPO) of Motorsport Games Inc. on the Nasdaq Capital Market. Motorsport Games will likely price its shares on Jan. 12. Motorsport Manager Mobile 3 is the ultimate race team strategy game. Stocks. The firm also just announced its headquarters is being built in Miami. Motorsport Games raised roughly $60 million after its IPO in January, selling approximately three million shares. 4 months ago - SEC. In May, it scored a multi-year licensing agreement to exclusively develop and publish the videogames for the British Touring Car Championship. Sushrut Vadalkar. You can follow him on Twitter @TomiKilgore. Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. (Note: Motorsport Games priced its upsized IPO at $$20 – the top of its new $19-to-$20 range – and 3 million shares were priced, in line with the IPO’s increased size. After IPO, Motorsport Games remains a ‘’controlled company‘’, being a wholly-owned subsidiary of Motorsport Network. The wealthiest clients at the top investment banks will get IPO shares in the hottest deals. As it turned out, the final IPO price went out at $49. On Jan. 6, the company said that it's offering about 2.35 million shares in the price range of $16–$18 per share. Motorsport … You can look at Motorsport Games’ prospectus here. MSGM has benefited amid the Covid-19 … Motorsport Games started in 2017 as a unit of Motorsport Network, which runs auto-racing media and publications. MUDS Stock Looks Undervalued Before the Topps Merger. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to … Hire the drivers, assemble the team, develop your car and mastermind your way to glory. Motorsport Games IPO Registration Document (S-1) Motorsport Games, Inc. has filed to go public with an IPO on the NASDAQ. The IPO ended up pricing at the $20 mark. The company plans to … Motorsport Games, a leading developer of racing games being spun out of Motorsport Network, raised $60 million by offering 3 million shares at … SPX, Motorsport Network will own 96.3% of the company after the IPO. Following its recent IPO, Motorsport Games intends to become the industry standard for virtual racing. It's the licensed video game and esports partner for automotive racing series including Nascar, Le … Motorsport Games has filed to raise $40 million in an IPO. IPO. Motorsport already owned more than 53%, and the 704Games unit generates almost all the parent company’s revenue, according to the suit. It sold 3 million shares and got $20 per share for the stock. PC&console-focused racing games developer Motorsport Games (NASDAQ: MSGM) has raised $69m of gross proceeds at $20 per share price through IPO on NASDAQ. For Motorsport Games, an initial range of $16 to $18 per share for 2.35 million shares ended up growing to a larger offering of 3 million shares with a higher range of $19 to $20. +0.86%. The firm also just announced its headquarters is being built in Miami. Published on : 09 Jan, 2021 , 9:34 am 09 Jan, 2021 , 9:34 am Motorsport Games, the gaming division of international media and technology company Motorsport Network, increased the value and number of their shares in its initial public offering (IPO). MIAMI, March 24, 2021 (GLOBE NEWSWIRE) -- Motorsport Games, Inc. (NASDAQ: MSGM) (“Motorsport Games”), today reported financial results for its … For Motorsport Games, an initial range of $16 to $18 per share for 2.35 million shares ended up growing to a larger offering of 3 million shares with a higher range of $19 to $20. The company announced Monday it increased the IPO’s shares to 3 million and at a price of $19 to $20 each. Compare share trading platforms. As of September 2020, the company had 10.5 million social media followers. The … In 2019, the global gaming market was an estimated $151.55 billion. Market Realist is a registered trademark. Buy Stock in the Epic Games Initial Public Offering (IPO) Ambitious investors may attempt to position themselves to invest in the Epic Games IPO once it arrives. It sold 3 million shares and got $20 per share for the stock. IPO, The … Motorsport Games has applied to list its Class A common stock on the Nasdaq Capital Market under the symbol “MSGM.” Canaccord Genuity LLC … The company is looking to go public at a time that the Renaissance IPO ETF About MSGM. The Motorsport Games IPO has the company offering up 3 million shares of MSGM stock. Motorsport Games Inc. increased the number of shares it was selling in its initial public offering, as the expected pricing of the IPO also increased. It also has a license to produce games for the British Touring Car Championship , … The stock is set to debut on the Nasdaq under the ticker symbol “MSGM.” When is the Motorsport Games IPO release date and what is the price?