GameSquare Shares Spike 6% In After-Hours Trading After Company Approves $100 Million Investment In Ethereum

GameSquare Holdings, Inc. (NASDAQ:GAME) shares climbed higher after-hours after a $100 million Ethereum (CRYPTO: ETH) investment announcement spurred a 58% rally on Tuesday.

What Happened: The firm disclosed the pricing details of its underwritten public offering for the sale of 8.42 million shares of common stock at $0.95 per share. The majority of the proceeds will be used to accelerate its Ethereum-based treasury strategy, it said in a press release.

This initiative is backed by a strategic partnership with Dialectic, a company focused on crypto-native capital management.

GameSquare’s Board has given the green light for an Ethereum allocation of up to $100 million. The investments will be phased over time, ensuring adequate working capital for the operating business.

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Full story available on Benzinga.com