Esports and entertainment company OverActive Media started trading on the OTCQB Venture Market today, the company has announced.
The new market will assure more liquidity and brand visibility for OverActive Media by making the company’s stock available for buyers from the United States.
RELATED: OverActive Media announces plans to build 7,000-seat esports venue
OverActive Media is one of the earliest esports-focused companies to be publicly traded. The company, which owns a number of esports teams such as MAD Lions, Toronto Ultra, and Toronto Defiant, is already traded on the Toronto Venture Exchange (TSXV).
Chris Overholt, President & CEO of OverActive Media, said: “Today is an indication of the progress we continue to make in the rapidly growing global esports and entertainment industry. Building off going public on the TSX Venture Exchange in July, we’ve opened up additional opportunities for investors and fans alike to own a part of OverActive.”
OverActive Media has been very active so far in 2021. The company announced a $40m investment (£29.5m) in spring, and has also announced plans for its state-of-the-art new esports venue in Toronto.
RELATED: OverActive Media commences trading on TSX Venture Exchange
The parent company of LEC-winning team MAD Lions reported more than $2.1m CAD revenue for the second quarter of 2021.
OverActive Media is part of a larger trend of well-known esports firms going public. The company is joined by the likes of Astralis, Guild Esports, and Enthusiast Gaming as a publicly-traded esports-focused company.
Esports Insider says: It seems like the initial stock offering for OverActive Media was a success, because the company is now trading in two countries; USA and Canada. With successful performances by the esports teams under OverActive Media, the revenues for this year may well conitnue to swing upwards.