Hall of Fame Resort plunges on $25 mln stock-and-warrants deal

Hall of Fame Resort & Entertainment Co

16/11/2020 15:10

** Hall of Fame Resort & Entertainment  HOFV.O  shares
plunge 54.2% to $1.14 on public offering. Stock hits record low
$1.09
    ** HOFV sells 17.9 mln units at $1.40, raises $25 mln
 urn:newsml:reuters.com:*:nBw4TkHHHa
    ** Each unit consists  of one share of common and one
warrant to purchase one share of common stock
    ** Offering price represents ~44% discount to stock's Fri
close
    ** HOFV has ~32.7 mln shares outstanding and ~5.2 mln shares
of free float, per Refinitiv data
    ** On Nov 5, shares more than tripled before finishing
session up ~79% at $3.41 after co inked deal with WaV and Sports
Illustrated Studios to produce docuseries centered on the NFL
Alumni Academy  urn:newsml:reuters.com:*:nL1N2HR1VM  urn:newsml:reuters.com:*:nBwblMr22a
    ** HOFV completed reverse merger with special purpose
acquisition company (SPAC) Gordon Pointe Acquisition in July

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))