SEGG Media closes $2.5 million funding for expansion plans

SEGG Media Corporation (NASDAQ: SEGG) closed a $2.5 million securities purchase agreement under a shelf registration statement filed with the Securities and Exchange Commission, the company announced.

The Fort Worth, Texas-based sports, entertainment and gaming group said the funds will support a 90-day plan of initiatives, including completing its acquisition of a controlling interest in Veloce Media Group. The company valued Veloce at $53 million pre-money.

SEGG Media outlined five key initiatives totaling $5 million in planned investments. These include finalizing the Veloce acquisition, funding commitments related to the DotCom Ventures acquisition to secure intellectual property for Concerts.com and TicketStub.com, and investing in international gaming operations starting with Mexico.

The company also plans continued investment in developing the Sports.com All-Sports Arena in Boca Raton, Florida, and addressing operational needs to strengthen internal processes.

"We have entered a phase where results matter more than rhetoric," said Marc Bircham, chairman of SEGG Media's board of directors. "The Company will prioritize fundamentals: driving sustainable revenue growth, improving operational efficiency, and strengthening financial stewardship."

Robert Stubblefield, interim CEO and CFO, said completing the Veloce acquisition is projected to add nearly $20 million in annual revenue beginning in the first quarter of 2026. This would represent more revenue than the company has reported since going public in 2021, according to the press release.

The company said initiatives not included in the 90-day plan will only be pursued if they provide meaningful financial benefit sufficient to offset potential shareholder dilution.

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