Company sells 240,000 units of one common share and one full warrant
By Devika Patel
Knoxville, Tenn., Jan. 29 – Monaker Group, Inc. settled a $600,000 private placement of units with Donald P. Monaco Insurance Trust on Jan. 25, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 240,000 units of one common share and a warrant at $2.50 per unit.
Each warrant is exercisable at $1.50 until Jan. 21, 2017. The strike price reflects a 63.33% discount to the Jan. 22 closing share price of $4.09.
Proceeds will be used for working capital and general corporate purposes.
The Weston, Fla., company provides digital media and marketing services.
| Issuer: | Monaker Group, Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $600,000
|
| Units: | 240,000
|
| Price: | $2.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Jan. 21, 2017
|
| Warrant strike price: | $1.50
|
| Investor: | Donald P. Monaco Insurance Trust
|
| Settlement date: | Jan. 25
|
| Stock symbol: | OTCBB: MKGI
|
| Stock price: | $4.09 at close Jan. 22
|
| Market capitalization: | $24.51 million
|
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