Solomon Partners Advised Five Below as Lead Investor in Nerd Street Gamers’ Financing
Solomon Partners’ Retail Group advised Five Below, Inc. (NASDAQ:FIVE) on its role as lead investor in Nerd Street Gamers’ Series A financing round. Five Below is a leading high-growth value retailer offering trend-right, high-quality products. Founded in 2002, Five Below has more than 850 stores in 36 states.
Nerd Street Gamers operates a national network of state-of-the-art esports facilities and hosts events dedicated to powering competitive opportunities for gamers. Five Below’s investment includes an agreement to build 3,000-square-foot Localhost spaces connected to select Five Below stores beginning in 2020. Based on learnings from the initial rollout, Five Below and Nerd Street Gamers could potentially add 70 or more Localhost locations connected to Five Below stores over the next several years. These esports experiential locations connect the gaming community through live, in-person events played on pro-level equipment.