Deal conducted by Roth Capital Partners to finance corporate purposes
By Devika Patel
Knoxville, Tenn., April 17 - NTN Buzztime, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $915,750 greenshoe in full, lifting total proceeds to $7.02 million. The deal was announced April 10 and priced for $6.11 million with the greenshoe on April 11.
The company sold 12,765,000 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. Of the shares, 1,665,000 were part of the fully exercised greenshoe.
Roth Capital Partners, LLC was the bookrunning manager.
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: | $7,020,750, including $915,750 greenshoe
|
| Shares: | 12,765,000
|
| Price: | $0.55
|
| Warrants: | No
|
| Bookrunner: | Roth Capital Partners, LLC
|
| Announcement date: | April 10
|
| Pricing date: | April 11
|
| Settlement date: | April 17
|
| Stock symbol: | NYSE: NTN
|
| Stock price: | $0.79 at close April 10
|
| Market capitalization: | $52.36 million
|
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