Mike Zoi, a significant shareholder in , disposed of a substantial amount of Class A common stock on April 23, 2026, according to a recent SEC filing.
The transaction involved the sale of 904,395 shares at a price of $4.11 per share, totaling approximately $3,717,063. This sale was conducted as a privately-negotiated off-market transaction, pursuant to a Share Repurchase Agreement dated April 22, 2026, between Mr. Zoi and Motorsport Games Inc. The sale price aligns closely with the stock’s current trading level of $4.02, which InvestingPro data suggests remains undervalued based on its Fair Value analysis.
The shares were held indirectly by Mr. Zoi through Driven Lifestyle Group LLC, where he serves as Manager. Following this transaction, Mr. Zoi’s indirect ownership in Motorsport Games Inc. stands at 254,453 shares, representing 5.0% of the company’s outstanding stock. The stock has delivered a 52% return over the past year despite notable volatility. For deeper insights, InvestingPro offers 13 additional ProTips and comprehensive Pro Research Reports covering MSGM and 1,400+ other US equities.
In other recent news, Motorsport Games Inc. announced the repurchase of 904,395 shares of Class A Common Stock from Driven Lifestyle Group LLC at $4.11 per share. This transaction resulted in the elimination of the company’s dual-class share structure, as all Class B shares, which had 10-times the voting power of Class A shares, have been retired. Consequently, each share now holds equal voting rights. Additionally, Motorsport Games revealed that its stockholders approved the exercise of warrants at the 2026 Annual Meeting of Stockholders. These warrants, originally issued on July 29, 2024, allow for the purchase of up to 949,310 shares of Class A common stock. The Series A and Series B Warrants cover up to 460,830 shares each, with an exercise price of $2.17 per share. Furthermore, there are warrants for up to 27,650 shares at an exercise price of $2.17125 per share, issued to designees of H.C. Wainwright & Co., LLC as placement agent compensation.
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