Super League secures $2.3M through first ATM offering

Super League Enterprise has raised approximately $2.23 million through its first at-the-market stock offering since announcing a deal that would turn the Nasdaq-listed company into Metaplanet’s U.S. Bitcoin treasury platform. Summary Super League sold 475,598 shares for approximately $2.23 million in gross proceeds. The company has opened another $2.27 million of capacity under the ATM program. Metaplanet plans to contribute 2,100 BTC and $2.5 million to the company. Super League is expected to become Superplanet after the transaction closes. According to an Aug. 21 prospectus amendment filed with the U.S. Securities and Exchange Commission, Super League sold 475,598 common shares for gross proceeds of approximately $2.23 million under an agreement signed three days earlier. The filing did not disclose the average selling price for the shares or the net proceeds after commissions and other offering costs. Dividing the reported gross proceeds by the number of shares sold gives an average of roughly $4.69 per share, although the individual sales may have occurred at different prices. With the first allocation completed, Super League amended the offering to make up to another $2.27 mi...