Mobile Global Esports (MGAM) saw its stock price surge 179.75% in its market debut on Friday. Mobile Global Esports was organized in March of 2021 for expanding an esports business started by Sports Industry of India (SII), in 2016. And the through a series of contracts, the rights to the business were assigned to MOGO by SII and its affiliates beginning in October of 2021.

MOGO is now building out and expanding the business created by SII, which is focused on the rapidly growing esports industry, with special emphasis on India and other South Asian markets.

Prior to going public, Mobile Global Esports had announced the pricing of its initial public offering of 1.5 million common shares at a public offering price of $4 per share, for gross proceeds of approximately $6 million before deducting offering expenses. And the company has granted the underwriters a 30 day over-allotment option to purchase an additional 15% or 225,000 shares.

WestPark Capital is the sole Book-Runner and Underwriter for the offering.