SEGG Media Completes $1.7 Million Direct Offering to Fund Acquisitions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Source: Globenewswire
- Offering Completion: SEGG Media successfully completed a registered direct offering of 2,449,857 shares, raising approximately $1.7 million, which is intended for general working capital and acquisitions of profitable businesses, thereby enhancing cash flow and market competitiveness.
- Acquisition Plans Advancement: The company plans to utilize the proceeds to advance acquisitions of revenue-generating businesses like Veloce Media Group and Nook Holdings Ltd., aiming to enhance overall revenue and profitability through quality asset integration.
- Financing Arrangement Changes: SEGG Media has decided to terminate its financing agreement with Evergreen Capital Markets, having received $500,000, but expects this move will not materially impact current liquidity, reflecting prudent management of its capital structure.
- Loan Agreement Termination: The company has terminated a $150 million loan agreement with United Capital Investments London, which is expected to prevent significant dilution of existing shareholders, further solidifying the company's financial stability.
Analyst Views on SEGG
Wall Street analysts forecast SEGG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SEGG is 15.50 USD with a low forecast of 15.50 USD and a high forecast of 15.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.850
Low
15.50
Averages
15.50
High
15.50
Current: 1.850
Low
15.50
Averages
15.50
High
15.50
About SEGG
Lottery.com Inc., doing business as SEGG Media Corporation, is a global sport, entertainment, and gaming company operating digital assets such as Sports.com, Concerts.com, and Lottery.com. The Company's operating segments include Sports, Entertainment, and Gaming. Its Sports.com is a global sports streaming and content platform focused on delivering premium short-form video, curated articles, and eventually live event coverage. The platform combines mobile-first accessibility, AI-driven personalization, and community engagement to create a unified experience for fans worldwide. Its Entertainment includes two key platforms: TicketStub.com, a ticketing service; and Concerts.com. The Gaming segment operates a business-to-consumer (B2C) Platform via the Lottery.com application, business-to-business application programming interface (API), delivers global lottery data, and provides information about lotteries, including results, analysis, comparisons, tools, and regulatory context.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
