MissionIRNewsBreaks – Monaker Group, Inc. (MKGI)
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Posted On: 08/14/2017 6:24:02 PM
MissionIRNewsBreaks – Monaker Group, Inc. (MKGI) Announces Completion of $3 Million Private Placement ahead of Planned Nasdaq Uplisting
Travel and technology company Monaker Group, Inc. (OTCQB: MKGI) this morning announced the completion of its previously detailed private placement equity financing with a group of institutional and accredited individual investors for gross proceeds of $3 million. Certain insiders and board members also participated in the offering, representing $635,000, or approximately 21 percent of the offering amount. “This new capital provides us the means to further strengthen our B2B alternative lodging rental platform for mainstream travel companies eager to enter the vacation rental space, as well as prepare us for an up listing to the Nasdaq Capital Market,” Bill Kerby, CEO of Monaker Group, noted in the news release. “We believe this successful funding reflects the confidence of institutional investors in our unique business model and recognition of how our customizable booking platform — the first to offer 1.4 million instantly-bookable alternative lodging properties — will be a true game changer for the travel industry.” Monaker intends to use proceeds from this placement to expand its technology division and alternative lodging rentals offerings, as well as for general corporate purposes.
Please read full disclaimers at http://disclaimer.missionir.com
Travel and technology company Monaker Group, Inc. (OTCQB: MKGI) this morning announced the completion of its previously detailed private placement equity financing with a group of institutional and accredited individual investors for gross proceeds of $3 million. Certain insiders and board members also participated in the offering, representing $635,000, or approximately 21 percent of the offering amount. “This new capital provides us the means to further strengthen our B2B alternative lodging rental platform for mainstream travel companies eager to enter the vacation rental space, as well as prepare us for an up listing to the Nasdaq Capital Market,” Bill Kerby, CEO of Monaker Group, noted in the news release. “We believe this successful funding reflects the confidence of institutional investors in our unique business model and recognition of how our customizable booking platform — the first to offer 1.4 million instantly-bookable alternative lodging properties — will be a true game changer for the travel industry.” Monaker intends to use proceeds from this placement to expand its technology division and alternative lodging rentals offerings, as well as for general corporate purposes.
Please read full disclaimers at http://disclaimer.missionir.com
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