Chardan Capital Markets also will have $405,000 over-allotment option
By Devika Patel
Knoxville, Tenn., Dec. 14 - YOU On Demand Holdings, Inc. said it priced a $2.7 million public offering of stock. The deal has a $405,000 greenshoe.
The company will sell 1.8 million common shares at $1.50 per share, a 25% discount to the Dec. 13 closing share price of $2.00.
Chardan Capital Markets, LLC is the bookrunning manager.
Settlement is expected on Dec. 18.
Proceeds will be used for general corporate purposes, which may include working capital as well as marketing and promotion.
The New York-based company is a national pay-per-view and video-on-demand platform in China.
| Issuer: | YOU On Demand Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.7 million
|
| Greenshoe: | $405,000
|
| Shares: | 1.8 million
|
| Price: | $1.50
|
| Warrants: | No
|
| Bookrunner: | Chardan Capital Markets, LLC
|
| Co-managers: | National Securities Corporation and Maxim Group LLC
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 18
|
| Stock symbol: | Nasdaq: YOD
|
| Stock price: | $2.00 at close Dec. 13
|
| Market capitalization: | $18.33 million
|
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