GameSquare Holdings, Inc., the media and technology firm behind FaZe Clan and other gaming ventures, has moved closer to its $100 million Ethereum treasury strategy, following a series of public offerings designed to fund the initiative in partnership with crypto investment firm Dialectic.
The latest offering, announced on 17 July, raised approximately $70 million in gross proceeds, with 46.67 million shares of common stock priced at $1.50 each. The offering includes a 15% overallotment option, which, if fully exercised, would raise total proceeds to around $80.5 million.
This follows a previous raise of approximately $8 million completed earlier in July, which saw shares sold at $0.95 each. Together, the two fundraises put GameSquare close to its stated goal of allocating $100 million to an Ethereum-focused treasury strategy.
“This raise marks a pivotal milestone for GameSquare,” said CEO Justin Kenna. “It enables us to move with speed and scale to continue to build what we believe is one of the most ambitious Ethereum treasury strategies in the public markets.”
The strategy, built in collaboration with Dialectic, aims to turn treasury management into a source of recurring, on-chain revenue through staking and yield-generating protocols. Kenna added that Dialectic’s historical strategies have generated yields in the 8–14% range, and the approach could deliver “millions in annual incremental revenue.”
GameSquare’s crypto initiative is being powered by Dialectic’s Medici platform, which incorporates machine learning and automated risk controls to manage digital assets. The company believes this approach aligns with broader institutional interest in decentralised finance and digital assets.
Lucid Capital Markets is acting as the sole book-running manager for both offerings. The latest deal is expected to close around 18 July, pending customary conditions.
