Brag House closes $15 million private placement financing round

Brag House Holdings Inc. (NASDAQ: TBH) completed a private investment in public equity financing, raising approximately $15 million in gross proceeds before deducting placement agent fees and offering expenses.

The company plans to use the net proceeds for general corporate purposes, including working capital, according to a statement released July 30.

Under the securities purchase agreement, Brag House sold 15,000 shares of Series B Convertible Preferred Stock convertible into 15,923,567 shares of common stock at a conversion price of $0.942 per share. The company also issued 15,923,567 warrants to acquire the same number of common stock shares.

Each unit, priced at $1,000, consisted of one share of Series B Convertible Preferred Stock convertible into approximately 1,061 shares and an equal number of warrants. The warrants are exercisable immediately at $0.817 per share and expire five years from issuance.

Revere Securities LLC served as the sole placement agent for the financing.

The securities were offered only to accredited investors and have not been registered under the Securities Act of 1933 or state securities laws. Brag House agreed to file registration statements with the Securities and Exchange Commission covering the resale of shares issuable upon conversion of the preferred stock and exercise of the warrants.

Brag House operates a gaming platform targeting Gen Z users at the intersection of gaming, college sports, and digital media. The platform offers live-streaming capabilities, gamification features, and tournament services.

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