Why Is Esports Entertainment (GMBL) Stock Down 45% Today? Source: NYCStock | Shutterstock.com Esports Entertainment (NASDAQ: GMBL ) stock is falling hard on Friday after the company revealed public stock offering details . The latest press release has Esports Entertainment pricing its shares at 25 cents each in the public stock offering. For the record, shares of GMBL were trading at 33 cents per share when markets closed on Thursday. With this latest offering, the company intends to offer 30 million shares of GMBL stock. The offering also ties warrants to purchase an additional 30 million shares to the stocks being offered. Those warrants are immediately exercisable for a price of 25 cents. To go along with this, underwriters of the offering can also acquire an additional 4.5 million shares and warrants at the offering price. Maxim Group and Joseph Gunnar Co. are the book-running managers of the offering. Esports Entertainment notes that the offering will generate $7.5 million prior to underwriting expenses. The company will use these funds for working capital and to pay off some of its outstanding senior notes.