By Katherine Hamilton
Super League Enterprise shares rose after it said it closed the second and final tranche of its private placement financing.
The stock gained 11% to $2.38 in after-hours trading on Friday. Through the close, shares had lost 91% of their value this year.
The Santa Monica, Calif., media company has secured $17.9 million in total gross proceeds from new and existing investors, it said. The offering was anchored by the previously announced $10 million investment from Evo Fund and added $2.65 million in the final tranche.
Super League will emerge with more than $15 million of deployable capital after accounting for transaction fees, expenses and debt repayments. Management believes that funding will be enough to cover its operations for the foreseeable future.
The financing is the culmination of a six-month turnaround plan to eliminate all outstanding debt by next month, streamline capital structure and gain enough capital to fund operations.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
October 24, 2025 17:39 ET (21:39 GMT)
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