Latest news with #AGAE
Business Wire
16 hours ago
- Business
- Business Wire
Allied Gaming & Entertainment Urges All Stockholders to Be Cautious About Misrepresented Assertions by Dissident Shareholder
NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 'Company' or 'AGAE'), a global experiential entertainment company, strongly urges its stockholders to support the Company nominated directors up for reelection by Allied Gaming & Entertainment to remain on the Company's Board of Directors ('Board') at AGAE's combined 2024/2025 annual meeting of stockholders (the 'Annual Meeting'). AGAE also strongly urges stockholders to be cautious about misrepresented assertions by a dissident shareholder, Knighted Pastures, LLC ('Knighted'), and recommends stockholders vote against those individuals nominated by Knighted. The Company issued the following statement: AGAE strongly disagrees with the assertions made by Knighted in their recent filings. Their campaign is self-serving and aims to seize control of the Company without offering any premium to AGAE's valued shareholders. AGAE benefits from a highly qualified, engaged Board that has extensive experience relevant to the Company's business strategy, and a wholesale Board change is unjustified and an unwarranted risk to AGAE stockholders. This past year, Knighted initiated two lawsuits against the Company, in quick succession, which Management and the Board believed were designed only to advance its self-serving interest to obtain control of the Company and the Company's valuable cash assets without compensating AGAE's shareholders by paying a control premium. These lawsuits consumed significant financial resources and diverted Management's attention away from crucial business-building activities, which Management believes has ultimately harmed shareholder value. Moreover, Knighted's hostile approach has severely damaged relationships with multiple strategic partners. These partners, essential for AGAE's long-term growth, expressed deep concern over the turmoil caused by Knighted's confrontational tactics. In good faith, AGAE's Board previously offered a peaceful resolution, inviting Knighted representatives onto the Board to contribute constructively to the Company's future direction. Regrettably, Knighted rejected this amicable solution, demanding immediate and unconditional control. AGAE firmly believes that Knighted's tactics are detrimental to all shareholders. AGAE's goal is clear: protect and enhance shareholder value through strategic, transparent, and responsible governance. AGAE stockholders are not required to take any action at this time. The Board and its Nominating and Corporate Governance Committee will review the Knighted materials in accordance with the Company's process and guidelines. The Board will make its recommendation regarding director nominees in the Company's proxy statement and accompanying WHITE proxy card, which will be filed with the U.S. Securities and Exchange Commission ('SEC') and mailed to all AGAE stockholders eligible to vote at the Annual Meeting. Advisors Paul Hastings LLP is serving as legal counsel, MacKenzie Partners, Inc. is serving as proxy solicitor and ADDO IR is serving as strategic communications advisor to AGAE. About Allied Gaming & Entertainment Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Forward Looking Statements This communication contains certain forward-looking statements under federal securities laws. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'intend' or 'continue,' the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. IMPORTANT ADDITIONAL INFORMATION REGARDING the 2024/2025 Annual Meeting of Stockholders and Where to Find It The Company intends to file a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the 'SEC') in connection with its solicitation of proxies for its 2024/2025 Annual Meeting. THE COMPANY'S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by the Company with the SEC without charge from the SEC's website at Certain Information Regarding Participants The Company, the President and Chairman, Yangyang Li and each of its non-employee Directors (namely, Mao Sun, Jingsheng (Jason) Lu, Guanzhou (Jerry) Qin, Yushi Guo, Yuanfei (Cliff) Qu and Chi Zhao) are deemed to be 'participants' (as defined in Section 14(a) of the Exchange Act) in the solicitation of proxies from the Company's stockholders in connection with the matters to be considered at the Annual Meeting. Information about the compensation of our President and Chairman, Yangyang Li and each of its non-employee Directors is set forth in the section titled 'Director Compensation' in the Company's preliminary proxy statement on Schedule 14A filed on November 12, 2024 (the '2024 Preliminary Proxy'), at pages 29 to 30, and is available here. Information regarding the participants' holdings of the Company's securities can be found in the section titled 'Ownership of Certain Beneficial Owners, Management and Directors' in the Company's 2024 Preliminary Proxy on pages 33 to 34 and is available here. When filed, supplemental information regarding the participants' holdings of the Company's securities can be found in SEC filings on Statements of Change in Ownership on Form 4 available on the Company's website at or through the SEC's website via the links referenced above. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company's proxy statement on Schedule 14A and other materials to be filed with the SEC in connection with the 2024/2025 Annual Meeting of Stockholders.
Yahoo
16 hours ago
- Business
- Yahoo
Allied Gaming & Entertainment Urges All Stockholders to Be Cautious About Misrepresented Assertions by Dissident Shareholder
NEW YORK, June 09, 2025--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the "Company" or "AGAE"), a global experiential entertainment company, strongly urges its stockholders to support the Company nominated directors up for reelection by Allied Gaming & Entertainment to remain on the Company's Board of Directors ("Board") at AGAE's combined 2024/2025 annual meeting of stockholders (the "Annual Meeting"). AGAE also strongly urges stockholders to be cautious about misrepresented assertions by a dissident shareholder, Knighted Pastures, LLC ("Knighted"), and recommends stockholders vote against those individuals nominated by Knighted. The Company issued the following statement: AGAE strongly disagrees with the assertions made by Knighted in their recent filings. Their campaign is self-serving and aims to seize control of the Company without offering any premium to AGAE's valued shareholders. AGAE benefits from a highly qualified, engaged Board that has extensive experience relevant to the Company's business strategy, and a wholesale Board change is unjustified and an unwarranted risk to AGAE stockholders. This past year, Knighted initiated two lawsuits against the Company, in quick succession, which Management and the Board believed were designed only to advance its self-serving interest to obtain control of the Company and the Company's valuable cash assets without compensating AGAE's shareholders by paying a control premium. These lawsuits consumed significant financial resources and diverted Management's attention away from crucial business-building activities, which Management believes has ultimately harmed shareholder value. Moreover, Knighted's hostile approach has severely damaged relationships with multiple strategic partners. These partners, essential for AGAE's long-term growth, expressed deep concern over the turmoil caused by Knighted's confrontational tactics. In good faith, AGAE's Board previously offered a peaceful resolution, inviting Knighted representatives onto the Board to contribute constructively to the Company's future direction. Regrettably, Knighted rejected this amicable solution, demanding immediate and unconditional control. AGAE firmly believes that Knighted's tactics are detrimental to all shareholders. AGAE's goal is clear: protect and enhance shareholder value through strategic, transparent, and responsible governance. AGAE stockholders are not required to take any action at this time. The Board and its Nominating and Corporate Governance Committee will review the Knighted materials in accordance with the Company's process and guidelines. The Board will make its recommendation regarding director nominees in the Company's proxy statement and accompanying WHITE proxy card, which will be filed with the U.S. Securities and Exchange Commission ("SEC") and mailed to all AGAE stockholders eligible to vote at the Annual Meeting. Advisors Paul Hastings LLP is serving as legal counsel, MacKenzie Partners, Inc. is serving as proxy solicitor and ADDO IR is serving as strategic communications advisor to AGAE. About Allied Gaming & Entertainment Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Forward Looking Statements This communication contains certain forward-looking statements under federal securities laws. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "intend" or "continue," the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. IMPORTANT ADDITIONAL INFORMATION REGARDING the 2024/2025 Annual Meeting of Stockholders and Where to Find It The Company intends to file a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the "SEC") in connection with its solicitation of proxies for its 2024/2025 Annual Meeting. THE COMPANY'S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by the Company with the SEC without charge from the SEC's website at Certain Information Regarding Participants The Company, the President and Chairman, Yangyang Li and each of its non-employee Directors (namely, Mao Sun, Jingsheng (Jason) Lu, Guanzhou (Jerry) Qin, Yushi Guo, Yuanfei (Cliff) Qu and Chi Zhao) are deemed to be "participants" (as defined in Section 14(a) of the Exchange Act) in the solicitation of proxies from the Company's stockholders in connection with the matters to be considered at the Annual Meeting. Information about the compensation of our President and Chairman, Yangyang Li and each of its non-employee Directors is set forth in the section titled "Director Compensation" in the Company's preliminary proxy statement on Schedule 14A filed on November 12, 2024 (the "2024 Preliminary Proxy"), at pages 29 to 30, and is available here. Information regarding the participants' holdings of the Company's securities can be found in the section titled "Ownership of Certain Beneficial Owners, Management and Directors" in the Company's 2024 Preliminary Proxy on pages 33 to 34 and is available here. When filed, supplemental information regarding the participants' holdings of the Company's securities can be found in SEC filings on Statements of Change in Ownership on Form 4 available on the Company's website at or through the SEC's website via the links referenced above. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company's proxy statement on Schedule 14A and other materials to be filed with the SEC in connection with the 2024/2025 Annual Meeting of Stockholders. View source version on Contacts Investor Contacts: Addo Investor Relationsir@ Bob MareseMacKenzie Partners, Inc.1-800-322-2885 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
4 days ago
- Business
- Business Wire
Allied Gaming & Entertainment Acknowledges Receipt of Notice from Dissident Shareholder
NEW YORK--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 'Company' or 'AGAE'), a global experiential entertainment company, today confirmed receipt of a purported notice from Knighted Pastures, LLC ('Knighted') of its intent to nominate individuals to stand for election to the Company's Board of Directors ('Board') at AGAE's combined 2024/2025 annual meeting of stockholders (the 'Annual Meeting'). The Company issued the following statement: AGAE strongly disagrees with the assertions made by Knighted. Their campaign is self-serving and aims to seize control of the Company without offering any premium to AGAE's valued shareholders. AGAE benefits from a highly qualified, engaged Board that has extensive experience relevant to the Company's business strategy, and a wholesale Board change is unjustified and an unwarranted risk to AGAE stockholders. This past year, Knighted initiated two lawsuits against the Company, in quick succession, which Management and the Board believed were designed only to advance its self-serving interest to obtain control of the Company and the Company's valuable cash assets without compensating AGAE's shareholders by paying a control premium. These lawsuits consumed significant financial resources and diverted Management's attention away from crucial business-building activities, which Management believes has ultimately harmed shareholder value. Moreover, Knighted's hostile approach has severely damaged relationships with multiple strategic partners. These partners, essential for AGAE's long-term growth, expressed deep concern over the turmoil caused by Knighted's confrontational tactics. In good faith, AGAE's Board previously offered a peaceful resolution, inviting Knighted representatives onto the Board to contribute constructively to the Company's future direction. Regrettably, Knighted rejected this amicable solution, demanding immediate and unconditional control. AGAE firmly believes that Knighted's tactics are detrimental to all shareholders. AGAE's goal is clear: protect and enhance shareholder value through strategic, transparent, and responsible governance. AGAE stockholders are not required to take any action at this time. The Board and its Nominating and Corporate Governance Committee will review the Knighted materials in accordance with the Company's process and guidelines. The Board will make its recommendation regarding director nominees in the Company's proxy statement and accompanying WHITE proxy card, which will be filed with the U.S. Securities and Exchange Commission ('SEC') and mailed to all AGAE stockholders eligible to vote at the Annual Meeting. Advisors Paul Hastings LLP is serving as legal counsel, MacKenzie Partners, Inc. is serving as proxy solicitor and ADDO IR is serving as strategic communications advisor to AGAE. About Allied Gaming & Entertainment Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Forward-Looking Statements This communication contains certain forward-looking statements under federal securities laws. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'intend' or 'continue,' the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. IMPORTANT ADDITIONAL INFORMATION REGARDING the 2024/2025 Annual Meeting of Stockholders and Where to Find It The Company intends to file a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the 'SEC') in connection with its solicitation of proxies for its 2024/2025 Annual Meeting. THE COMPANY'S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by the Company with the SEC without charge from the SEC's website at Certain Information Regarding Participants The Company, the President and Chairman, Yangyang Li and each of its non-employee Directors (namely, Mao Sun, Jingsheng (Jason) Lu, Guanzhou (Jerry) Qin, Yushi Guo, Yuanfei (Cliff) Qu and Chi Zhao) are deemed to be 'participants' (as defined in Section 14(a) of the Exchange Act) in the solicitation of proxies from the Company's stockholders in connection with the matters to be considered at the Annual Meeting. Information about the compensation of our President and Chairman, Yangyang Li and each of its non-employee Directors is set forth in the section titled 'Director Compensation' in the Company's preliminary proxy statement on Schedule 14A filed on November 12, 2024 (the '2024 Preliminary Proxy'), at pages 29 to 30, and is available here. Information regarding the participants' holdings of the Company's securities can be found in the section titled 'Ownership of Certain Beneficial Owners, Management and Directors' in the Company's 2024 Preliminary Proxy on pages 33 to 34 and is available here. When filed, supplemental information regarding the participants' holdings of the Company's securities can be found in SEC filings on Statements of Change in Ownership on Form 4 available on the Company's website at or through the SEC's website via the links referenced above. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company's proxy statement on Schedule 14A and other materials to be filed with the SEC in connection with the 2024/2025 Annual Meeting of Stockholders.
Yahoo
30-05-2025
- Business
- Yahoo
Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report
NEW YORK, May 29, 2025--(BUSINESS WIRE)--Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the "Company" or "AGAE"), a global experiential entertainment company, today announced that on May 22, 2025, it received a deficiency letter (the "Letter") from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") notifying the Company that it is not in compliance with the periodic requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (the "Form 10-Q") was not filed with the Securities and Exchange Commission by the required due date of May 15, 2025 (or May 20, 2025 following the Form 12b-25 filed by the Company on May 15, 2025) and because the Company remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the "Form 10-K" and together with the Form 10-Q, the "Delinquent Reports"). This Letter received from Nasdaq has no immediate effect on the listing or trading of the Company's common stock. Under Nasdaq rules, the Company has until June 16, 2025, to submit a plan to regain compliance with the Nasdaq Listing Rules. The Company currently expects it will be able to file the Delinquent Reports prior to such deadline. In the event the Company needs to submit a plan of compliance, and Nasdaq accepts the Company's plan, Nasdaq may grant an exception of 180 calendar days from the due date of the initial delinquent filing of the Form 10-K, or until October 13, 2025, as instructed by the Letter, to regain compliance with the Nasdaq Listing Rules. However, there is no assurance that Nasdaq will accept the Company's plan to regain compliance. The Company is working diligently to regain compliance with Nasdaq's Listing Rules. About Allied Gaming & Entertainment Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit Forward-Looking Statements This communication contains certain forward-looking statements under federal securities laws. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "intend" or "continue," the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. View source version on Contacts Investor Contact: Addo Investor Relationsir@ Sign in to access your portfolio
Yahoo
26-02-2025
- Business
- Yahoo
AGAE Technologies Announces the Industrial Production of Rhamnolipid Biosurfactant From a Full-Scale Manufacturing Plant in Asia
PORTLAND, Ore., February 26, 2025--(BUSINESS WIRE)--AGAE Technologies ("AGAE"), a US-based leader in rhamnolipid production and technology, with its partners, has officially opened the largest retrofitted manufacturing plant complex in Asia. This manufacturing complex, covering 41,000 square feet, has the capacity to produce over 1,000 metric ton of rhamnolipids annually, with room to add production lines as demand rises. AGAE has been at the forefront of rhamnolipid production technologies since 2011. The company's earlier success in building a custom modular fermentation pilot plant in 2020 in the US offers unmatched flexibility in terms of configuration and production settings. Through an interdisciplinary approach at the pilot plant scale, AGAE solved the long-standing challenges in rhamnolipid production: foam control, low yields, and high costs for downstream processing. Since then, AGAE has actively looked for partners to scale up domestically and internationally. Its efforts resulted in the successful completion and operation of the retrofitted plant complex. Scaling up to industrial production of rhamnolipids presented a range of technical challenges. Managing the flow of thousands of cubic meters of compressed air, quickly recycling dozens of cubic meters of ever-increasing foam, and safely controlling the corresponding pressure are just a few of the problems they've now solved. At the same time, all filters, valves, sealings, tubes/pipes, and pumps had to withstand the above engineering challenges. "Completing this plant complex was only possible because of the cutting-edge foam control technologies and the data we gathered from years of trial and error at our benchtop bioreactor and fermentation pilot plant," said Mr. Garrett Holzwarth, a fermentation scientist at AGAE. With our proprietary technologies, we have the competence and confidence needed to build a full-scale manufacturing plant complex in the US. Rhamnolipid is a member of glycolipid biosurfactant family. Rhamnolipid has better water solubility than Sophorolipid. Rhamnolipid is a renewable natural product, practically non-toxic and completely biodegradable. Its mildness and other skin-beneficial properties are well-suited for personal and home care products. Rhamnolipid can be used in many other industries as well, such as cosmetics, pharmaceuticals, therapeutics, oral care, agriculture, environmental remediation, enhanced oil recovery, etc. With this plant complex, AGAE not only boosts its ability to supply competitively priced, high-quality rhamnolipid products in large volumes but also plays a major role in expanding the use of eco-friendly rhamnolipid biosurfactant globally. Visit: View source version on Contacts Email: info@ Call: 541-207-3943/541-602-7768
