MissionIRNewsBreaks – Monaker Group, Inc. (MKGI)
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Posted On: 08/01/2017 5:49:11 PM
MissionIRNewsBreaks – Monaker Group, Inc. (MKGI) Announces $3 Million Private Placement Ahead of Planned Nasdaq Uplisting
Travel and technology company Monaker Group, Inc. (OTCQB: MKGI) this morning announced its entry into definitive documentation related to a private placement of equity financing totaling in excess of $3.0 million in gross proceeds. Certain insiders and board members participated in this offering, representing $635,000, or approximately 21 percent of the transaction. Under the terms of the agreement, purchasers received securities comprised of one common share and one warrant entitling the holder to purchase an additional common share at an exercise price of $2.10 with an expiration date five years from the date of issuance. Per the terms of the agreement, Monaker will be required to apply for a listing of its common shares on the Nasdaq Capital Market within 60 days following the closing of the offering, which is subject to customary closing conditions and expected to close on August 3. Monaker intends to use proceeds from this transaction to expand its technology division and alternative lodging rentals offering, as well as for general corporate purposes.
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Travel and technology company Monaker Group, Inc. (OTCQB: MKGI) this morning announced its entry into definitive documentation related to a private placement of equity financing totaling in excess of $3.0 million in gross proceeds. Certain insiders and board members participated in this offering, representing $635,000, or approximately 21 percent of the transaction. Under the terms of the agreement, purchasers received securities comprised of one common share and one warrant entitling the holder to purchase an additional common share at an exercise price of $2.10 with an expiration date five years from the date of issuance. Per the terms of the agreement, Monaker will be required to apply for a listing of its common shares on the Nasdaq Capital Market within 60 days following the closing of the offering, which is subject to customary closing conditions and expected to close on August 3. Monaker intends to use proceeds from this transaction to expand its technology division and alternative lodging rentals offering, as well as for general corporate purposes.
Please read full disclaimers at http://disclaimer.missionir.com
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