Deal conducted by Roth Capital Partners to finance corporate purposes
By Devika Patel
Knoxville, Tenn., April 11 - NTN Buzztime, Inc. said it priced a $6.11 million public sale of stock with a $915,750 greenshoe. The deal was announced Thursday.
The company will sell 11.1 million common shares at $0.55 apiece. The price per share is a 30.38% discount to the April 10 closing share price of $0.79.
Roth Capital Partners, LLC is the sole bookrunning manager.
Settlement is expected April 16.
Proceeds will be used for general corporate purposes, including working capital, general and administrative expenses and capital expenditures.
The interactive entertainment network is based in Carlsbad, Calif.
| Issuer: | NTN Buzztime, Inc.
|
| Issue: | Common shares
|
| Amount: | $6,105,000
|
| Greenshoe: | $915,750
|
| Shares: | 11.1 million
|
| Price: | $0.55
|
| Warrants: | No
|
| Bookrunner: | Roth Capital Partners, LLC
|
| Announcement date: | April 10
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Stock symbol: | NYSE: NTN
|
| Stock price: | $0.79 at close April 10
|
| Market capitalization: | $48.68 million
|
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