AGAE News & Events

Allied Gaming & Entertainment announced that its board of directors has approved a proposal to change the company's corporate name to "AI & FutureTech Alliance Limited," with a proposed corresponding ticker symbol change to (AIFA) and has commenced development planning for an artificial intelligence infrastructure project in the Hainan Free Trade Port - the AIFA Silicon Photonics AI Supercomputing Center - part of the company's strategic direction along with future mergers, acquisitions, and development of global optical network infrastructure. Both the proposed name change and the infrastructure project are subject to significant conditions, including shareholder approval, regulatory filings, financing, and other requirements described below. The company's board of directors has approved a proposal to change the company's corporate name from Allied Gaming & Entertainment to AI & FutureTech Alliance, with a corresponding ticker symbol change on Nasdaq from (AGAE) to (AIFA) subject to shareholder approval and regulatory filings.

Allied Gaming & Entertainment announced that its Board of Directors has taken note of unusual volatility in the trading of the Company's common stock in the secondary market and has received market analysis information from Woprai, a third-party AI and Machine Learning data analysis institution regarding short-selling activity in the Company's stock. According to such third-party analysis, short-sale trading in the Company's stock represented a relatively high percentage of overall trading during a certain period, and the Company has taken note of this matter with a high degree of attention. In order to protect the lawful interests of the Company and all of its shareholders, the Board has promptly established a special committee and working mechanism, and has authorized the relevant professional teams to conduct further review and evaluation of trading activity in the Company's stock. The Company intends to take appropriate measures to address any potentially abnormal trading activity, market manipulation, or other market conduct that may harm the interests of the Company or its investors. If, in the course of its review, the Company identifies suspicious trading activity that should be brought to the attention of regulatory authorities, the Company will promptly report such matters to, and cooperate with, the U.S. Securities and Exchange Commission, Nasdaq, and other relevant regulatory or law enforcement authorities, as appropriate.

Allied Gaming & Entertainment issued this supplemental update in light of the elevated trading volume in the Company's common stock following its previously announced strategic transformation update. The Board of Directors is providing additional information regarding the Company's shareholder value protection principles, the current status of certain strategic initiatives, and related market and execution risks. Based on the Board's current assessment, the Board does not currently expect to approve future M&A-related share issuances below $2.00 per share, a level it believes better reflects the Company's net asset value, creditor-related value, and overall public company platform value, and implies a pre-transaction equity value of at least $80 million. With respect to the Company's AI-driven consumer applications and token-enabled ecosystem strategic track, the Company is in active discussions with multiple AI-related projects that the Company believes have mature product profiles, existing user bases, and meaningful commercialization potential.