IRVINE, Calif., January 3, 2022–(BUSINESS WIRE)–Allied Esports Entertainment, Inc. (NASDAQ:AESE) (the “Company” or “AESE”), a global esports entertainment company, today announced that it has engaged The Benchmark Company, LLC (“Benchmark”) to act as exclusive financial advisor to the Company in connection with a potential business combination transaction.
As previously announced, the Company is actively seeking opportunities to invest cash on its balance sheet to acquire or merge with an existing business. To date, the Company has reviewed a number of potential targets and the continued search for additional opportunities is ongoing. Benchmark’s engagement should accelerate this process.
Lyle Berman, Co-Chairman and President of the company, said, “I am very pleased to announce our engagement with Benchmark to assist in the identification and execution of a transformative M&A transaction. After an extensive and extremely thorough research process, I believe that Benchmark is the ideal investment bank to advise our team as we continue our efforts to maximize shareholder value for AESE.”
About Allied Esports Entertainment
Allied Esports Entertainment (NASDAQ: AESE) is a global esports entertainment company dedicated to delivering transformative live experiences, cross-platform content and interactive services to audiences around the world. For more information, visit alliessports.gg.
This communication contains certain forward-looking statements under federal securities laws. Forward-looking statements may include our statements regarding our goals, beliefs, strategies, objectives, plans, including product and service developments, future financial conditions, results or projections or current expectations. In some cases, you can identify forward-looking statements by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, ” estimate”, “predict”, “potential” or “continue”, the negative of these terms, or any other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond our control. , which could lead to actual results or outcomes. differ materially from those referred to in these forward-looking statements. Important factors, among others, that may affect actual results or results include: the ability to meet Nasdaq’s continuing listing standards; our ability to execute our business plan; the ability to retain key personnel; potential litigation; general economic and market conditions affecting demand for our services; a change in our plans to retain the net cash proceeds of the WPT sale transaction; our inability to complete one or more future acquisitions or strategic transactions using the net proceeds of the WPT sale transaction; and a decision not to pursue strategic options for the esports sector. You should consider the areas of risk described in connection with any forward-looking statements that may be made herein. The business and operations of AESE are subject to substantial risks, which increase the uncertainty inherent in the forward-looking statements contained in this communication. Except as required by law, we undertake no obligation to release the outcome of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events. . Further information on potential factors that could affect our business is described under “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on April 13, 2021. are also encouraged to carefully review and consider the various information that we have provided in this Annual Report on Form 10-K
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