Allied Gaming & Entertainment, Inc. (AGAE), formerly known as Allied Esports Entertainment (AESE), announced the conclusion of its previously announced strategic review process. The strategic review was overseen by the company’s board of directors and included the assistance of The Benchmark Company, which served as the company’s exclusive financial advisor in connection with a potential business combination transaction. After carefully considering possible alternatives, the company has determined that its shareholders’ interests will be best served by restructuring its existing esports business operations and expanding its focus to include a broader array of entertainment and gaming products and services in lieu of seeking a single business combination transaction. In alignment with the announcement, the company changed its corporate name and rebranded to "Allied Gaming & Entertainment Inc." The company’s common stock continues to be publicly traded on the Nasdaq Capital Market under the new ticker symbol (AGAE). In addition, the company has appointed Robert Proctor as the new CEO of Allied Esports International, a 100% owned subsidiary of the company, to lead the restructuring of the company’s esports business.
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