WESTPORT, CT and GOREGAON EAST, MUMBAI, INDIA, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Mobile Global Esports Inc. (NASDAQ:MGAM), the mobile esports and social platform company that holds trademark and IP rights for collegiate esports tournaments, teams and players in India, today announced that it has entered into a securities purchase agreement with an institutional investor for the issuance and sale of 1,886,793 shares of its common stock and warrants to purchase up to an aggregate of 1,886,793 shares of its common stock at a combined purchase price of $2.65 per share and accompanying warrant in a private placement priced at-the-market under Nasdaq rules. The offering is expected to close on or about September 23, 2022, subject to the satisfaction of customary closing conditions.

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