GameSquare bets on Ethereum after a record fundraising of 70 million

GameSquare completes a public offering by selling 46,666,667 ordinary shares at 1.50 dollars each, for a total of approximately 70 million dollars raised before costs and commissions with the aim of creating one of the most ambitious treasury strategies in Ethereum among publicly traded companies.

Why GameSquare invests in Ethereum and what changes now

The CEO Justin Kenna aims to transform the corporate treasury into a high-performance business, aiming to generate recurring and lasting cash flows thanks to Ethereum.

The collaboration with Dialectic, a leading entity in crypto-native management, allows GameSquare to leverage strategies that have previously produced on-chain returns between 8% and 14%.

The majority of the new funds will be used to purchase ETH, with the aim of strengthening the company’s position in the blockchain ecosystem. s According to Kenna, this choice not only protects the value of the company’s treasury but could generate millions of dollars in incremental annual revenue, to be reinvested in new acquisitions of ETH and in the broader strategic growth of GameSquare.

In practice, GameSquare will capitalize on the proceeds of the public offering with advisory strategies developed by Dialectic.

These will include staking — that is, the locking of ETH in dedicated smart contracts to validate transactions on the network, obtaining rewards in return — as well as advanced on-chain yield-generating strategies. The expected result?

A recurring stream of revenue, even in non-optimal market scenarios, with the possibility of riding any future appreciation of ETH.

If the 15% overallocation option is fully exercised, GameSquare will raise additional funds to reach over 80.5 million dollars.

Also noteworthy are the 9.2 million dollars already collected in the previous week, bringing the total to over 90 million dollars in two rounds. The operation is based on a prospectus approved by the SEC on June 4, 2025.

Finally, the offer will close around July 18, 2025, subject to standard closing conditions, while the company will have 45 days to exercise the option to purchase up to 7 million additional shares at the placement price, net of fees.

Who are Dialectic and Lucid Capital Markets and why are they relevant?

In a scenario where DeFi and major crypto assets push more visionary companies to change cash management, GameSquare has chosen two central partners:

Dialectic is recognized as one of the world’s leading experts in crypto-native yield generation, with proven and sophisticated on-chain strategies that aim both at profit and at reducing operational risk.

Their consultancy is a guarantee for the robustness of the new GameSquare treasury strategy.

Lucid Capital Markets acts as the sole appointed representative for the offering, following all phases from issuance to the management of the capital raised, ensuring transparency and compliance with the rules of the listed markets.

This is an almost unique case among public companies in the USA, which rarely choose such a level of exposure to Ethereum as a primary treasury asset.

Until today, crypto-native strategies were the domain of historic names like MicroStrategy, focused on Bitcoin.

However, GameSquare introduces a variant oriented towards Ethereum, aiming to consolidate on-chain revenues and become a catalyst also for the Gaming, eSports, and Generation Z market.

The influence of GameSquare, which manages one of the largest gaming media networks in North America and is a leader in the sector through FaZe Clan Esports, shows how the convergence between gaming, DeFi, and Ethereum is set to also change the monetization logic of influencers and large digital marketing agencies.

What risks and what prospects for investors and stakeholders?

GameSquare bets on the appreciation and solidity of the Ethereum protocol.

However, exposing oneself so significantly to a volatile asset subject to specific risks, among staking strategies, regulatory changes, and movements of the crypto market, can lead to significant fluctuations in quarterly results.

For traditional investors, the novelty lies in the transformation of the cash management approach: no longer just protection from the risk of inflation or currency depreciation, but an active search for extra yield, with possible competitive advantages in the long term.

However, watch out for market fluctuations: the strategy is sustainable only with strict risk management and continuous review of internal policies.

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With this operation, GameSquare positions itself at the forefront of crypto management for publicly traded multinationals, going beyond the classic tools of corporate finance.

The GameSquare-Ethereum combination could become a benchmark for those operating between gaming, advertising, and Web3, paving the way for new forms of fundraising and community engagement. The future depends on how ETH will evolve in the medium term and the ability of companies like GameSquare to create stable value for both shareholders and digital stakeholders.

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Everything can change in the coming weeks: follow the growth of crypto-native treasury strategies and stay updated on the next moves of GameSquare and its partners.