On January 23, 2023, Hall of Fame Resort & Entertainment Company closed the transaction. The company amended its terms of transaction and issued 800 Series A Cumulative Redeemable Preferred Stock at a price of $1,000 per share for aggregate gross proceeds of $800,000 to ADC LCR Hall of Fame Manager II, LLC in its second and final tranche. The company raised $2,400,000 in the transaction.