Super League Enterprise announced that it has signed a definitive agreement to acquire the advertising division of Misfits Gaming Group, a move aimed at expanding its revenue base and accelerating its path to positive adjusted EBITDA. The transaction builds on the company’s restructuring efforts in 2025 and follows a $20 million PIPE financing completed in October 2025, which strengthened its balance sheet for growth initiatives.
The acquisition is expected to enhance Super League’s advertising capabilities across multiple areas, including programmatic revenue, rewarded video technology, creator and talent relationships, and expanded brand partnerships. The Misfits Ads Division has executed more than 150 brand partnership programs across major gaming platforms such as Roblox and Minecraft, working with leading gaming creators and communities.
As part of the transaction, Super League and Misfits will also enter into a preferred commercial brand partnership agreement, enabling Super League to run brand integrations across Misfits’ portfolio of games, which reach more than 100 million monthly active users.
Under the terms of the deal, Misfits will receive $1.5 million in cash and a 19.99% equity stake in Super League, along with potential additional cash and equity consideration tied to revenue milestones over a 24-month period. Misfits will also receive a warrant to purchase Super League common stock at an exercise price of $18 per share. The transaction remains subject to customary closing conditions, including shareholder approval.
Following the closing, a member of Misfits’ board will join Super League’s board, and Justin Stefanovic, who leads partnerships for the Misfits Ads Division, will join Super League along with members of his team.
Super League said the acquisition will strengthen its ability to connect brands with gaming audiences by combining expanded reach with deeper audience intelligence, enabling marketers to better understand engagement and conversion across gaming and digital platforms.
KEY QUOTES:
“We are excited to welcome the Misfits Ads Division into Super League. Once closed, this acquisition will go well beyond just adding new revenue—it will add the automation and talent needed to win a disproportionate share of spend targeting one of the largest and most engaged audiences in modern media. As brands shift their budgets toward gaming to find the ‘unreachables,’ Super League now will be better equipped to convert that attention into measurable financial performance and a faster path to positive Adjusted EBITDA.”
Matt Edelman, Chairman And Chief Executive Officer Of Super League
“Misfits has always believed in the power of gaming to bring brands closer to passionate communities. Super League shares that vision, and we believe combining our advertising business with their platform and distribution capabilities will create a stronger foundation for growth. We look forward to continuing to work closely together as partners.”
Ben Spoont, Chief Executive Officer Of Misfits Gaming Group
“Bringing these two businesses together will create a much larger platform for brands that want to reach gaming audiences. Our track record of guiding brands through gaming-focused programs with targeted amplification, combined with Super League’s products, scale, and distribution will unlock a powerful commercial engine capable of delivering bigger ideas, broader reach, and measurable impact for brands looking to win with gamers.”
Justin Stefanovic, Partnerships Lead For Misfits Ads Division
