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Enhanced Games is going public in two ways – through a new listing on the Nasdaq Stock Exchange and through offering a direct-to-consumer business focused on high-performance products, which it says is “aimed at democratizing access to productivity tools and protocols.”
Wednesday's announcement comes six months ahead of the company's swimming, track and weightlifting meets in Las Vegas. Olympic sprinter Fred Curley and swimmer Ben Proud are among a handful of athletes who have signed up to compete for the $250,000 top U.S. prizes.
According to Enhanced's press release, they will not be drug tested like Olympic athletes, but will be “required” to comply with medical profiles to ensure they are healthy before competition.
Enhanced's new public offering is expected to raise $200 million. The company said it had closed a $40 million stock deal ahead of the announcement, with that stake to be converted into public shares once the company begins trading.
WATCH | Trackside's Perdita Felicien, Donovan Bailey and Kate Van Buskirk on Enhanced Games:
A key part of the financial model that was not discussed publicly when Enhanced Games launched in 2023 is its offering of so-called consumer health products. Enhanced said in a press release that the company aims to launch its product in early 2026. Currently, Enhanced's website includes a link to “backup access” to testosterone replacement medications.
“By combining scientific advances with elite sporting achievements, we can not only build an exciting new sporting facility that will change the lives of athletes, but also demonstrate that enhanced performance – with the right clinical and medical supervision – can lead to long-term benefits for health and longevity,” said Enhanced CEO Maximilian Martin.
Martin's appointment as CEO was announced last week as part of a major overhaul of the company's front office that will see founder and frontman Aron D'Souza step away from day-to-day operations but remain a shareholder.
Sid Bantia, former chief financial officer at Milk Bar Bakery, has taken the same position at Enhanced. Rick Adams, former director of sports performance for the U.S. Olympic and Paralympic Committee, now leads Enhanced as chief sport officer.
