UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 7, 2021
GAMES & ESPORTS EXPERIENCE ACQUISITION CORP.
(Exact name of registrant as specified in its charter)
Cayman Islands | 001-41113 | 98-1583469 | |
(State or other jurisdiction | (Commission File Number) | (IRS Employer | |
of incorporation) | Identification Number) | ||
7381 La Tijera Blvd. P.O. Box 452118 Los Angeles, California | 90045 (Zip Code) | ||
(213) 266-7674
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act.
Title of each class | Trading Symbol | Name of each exchange on which registered | ||
Units, each consisting of one Class A Ordinary Share, $0.0001 par value, and one-half of one redeemable warrant | GEEXU | The Nasdaq Global Market | ||
Class A Ordinary Shares | GEEX | The Nasdaq Global Market | ||
Redeemable Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 | GEEXW | The Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 | Other Events. |
On December 7, 2021, Games & Esports Experience Acquisition Corp. (the “Company”) consummated its initial public offering (the “IPO”) of 20,000,000 units (the “Units”), which included 2,500,000 units issued pursuant to the partial exercise of the underwriters’ over-allotment option. Each Unit consists of one Class A ordinary share of the Company, $0.0001 par value per share (the “Class A Ordinary Shares”), and one-half of one redeemable warrant of the Company (the “Public Warrants”), with each whole Public Warrant entitling the holder thereof to purchase one Class A Ordinary Share at an exercise price of $11.50 per share, subject to adjustment. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds to the Company of $200,000,000.
Simultaneously with the closing of the IPO on December 7, 2021, pursuant to the terms of the Private Placement Warrants Purchase Agreement, dated as of December 1, 2021, between the Company and GEEX Sponsor, LLC (the “Sponsor”), the Company completed the private sale to the Sponsor of an aggregate of 11,250,000 warrants to purchase one Class A Ordinary Share (the “Private Placement Warrants”) at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $11,250,000. A total of $205.0 million, comprised of $196.0 million of the net proceeds from the IPO (which amount includes $7.0 million of the underwriters’ deferred discount) and $9.0 million of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds held in the trust account that may be released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), the funds held in the trust account will not be released from the trust account until the earliest of (i) the completion of the Company’s initial business combination, (ii) the redemption of any of the Class A Ordinary Shares included in the Units sold in the IPO (the “public shares”) properly submitted in connection with a shareholder vote to amend the Company’s Amended and Restated Memorandum and Articles of Association (a) to modify the substance or timing of the Company’s obligation to provide for the redemption of the public shares in connection with any proposed initial business combination or to redeem 100% of the public shares if the Company does not complete its initial business combination within 15 months (or up to 24 months if the period of time to consummate an initial business combination is extended pursuant to the terms of the Amended and Restated Memorandum and Articles of Association) (such period, the “completion window”) from the closing of the IPO or (b) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity and (iii) the redemption of the public shares if the Company is unable to complete its initial business combination within the completion window, subject to applicable law.
An audited balance sheet as of December 7, 2021 reflecting receipt of the proceeds from the IPO and the sale of the Private Placement Warrants has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
Exhibit No. | Description of Exhibits | |
99.1 | Audited Balance Sheet as of December 7, 2021 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Games & Esports Experience Acquisition Corp. | ||
By: | /s/ Ari Segal | |
Name: Ari Segal | ||
Title: Chief Executive Officer |
Date: December 14, 2021