Written by Dante Uzel on 27 July 2024 08:16
European Organization Ninjas in Pyjamas, began trading publicly on NASDAQ. NIP Group, which owns Ninjas in Pyjamas along with Chinese gaming organization eStar and representation agency ESVF, is aiming to raise approximately $20.25 million through its IPO. According to SEC filings this week, the company will issue 2.25 million shares at $9 each, the lower end of the previously indicated $9-$11 range. The stock will be listed on Nasdaq under the ticker symbol NIPG.
This public debut comes in the wake of other esports organizations' troubled public offerings. In 2021, FaZe Clan went public via a SPAC at a valuation of $1 billion but was sold for around $19m two years later. Similarly, Astralis, which IPO’ed in 2019 with a stock price of about $1.30 , decided to delist last year as its stock price dwindled to mere pennies.
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NIP Group announced that the IPO offering is anticipated to close on July 29th, contingent on any regulatory approvals. To mark the occasion of the company's public listing, NIP Group Co-CEOs Hicham Chahine and Mario Ho are scheduled to ring the NASDAQ Opening Bell, with the ceremony set to begin around 9:30 am ET.
Tags: Ninjas in Pyjamas NASDAQ IPO
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