AG Mortgage Investment Trust Inc (NYSE: MITT) Announces Reverse Stock Split, And Allied Esports Entertainment Inc (NASDAQ: AESE) Completes World Poker Tour® Sale

AG Mortgage Investment Trust Inc (NYSE: MITT) announced its reverse stock split plan. A source from the company shared that the Board of Directors, in unison, approved a reverse stock split of the company’s common stock at a ratio of 1-for-3. If all falls in place, the reverse stock split plan will occur after the close of business on 22 July, 2021. 

The company’s stock will trade on NYSE with a new CUSIP number

As per reports from Effective Time, every three shares and outstanding shares that the company has issued will be transferred into one share of the company’s common stock. It is also reported that the company’s common stock will start trading on the New York Stock Exchange under a new CUSIP number: 001228 501. Trading of the new stock will commence on a post-split basis beginning on July 23, 2021. American Stock Transfer & Trust Company, LLC, is the company’s transfer agent responsible for communicating with stakeholders information about the reverse stock split. 

Allied Esports Entertainment Inc (NASDAQ: AESE) seals deal with Element Partners, LLC

Allied Esports Entertainment Inc (NASDAQ: AESE) has successfully closed the sale of World Poker Tour® to Element Partners, LLC. An announcement of the complete sale of the entities comprising the World Poker Tour®, to Element Partners, LLC was made official. A meeting of stakeholders was called for, and the sale transaction and plan were accepted. The special meeting was held on July 1, 2021.

 The sale deal was finalized for a purchase price of $105 million. The sale also included 100% of the outstanding capital stock of each of the legal entities that collectively operated or engaged in the company’s poker-related business and assets.

CEO of Allied Esports Entertainment Inc is happy with the sale 

“This is a momentous day for AESE and an opportunity to focus on growing the business in exciting and innovative ways,” said Frank Ng, CEO of Allied Esports Entertainment. “Congratulations to Adam Pliska and his entire team at World Poker Tour as they too move into a new, successful chapter.”

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