Aegis Capital is the sole bookrunner; deal to fund corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 4 – One Horizon Group, Inc. said it priced a $3 million public offering of units with a $450,000 greenshoe. The deal was announced Tuesday and priced a few hours later.
The company will sell 1,714,286 units of one common share and one half-share warrant at $1.75 per unit, with each whole warrant exercisable at $2.50 for three years. The strike price is a 19.05% premium to the Aug. 3 closing share price of $2.10.
Aegis Capital Corp. is the bookrunning manager.
Settlement is expected Aug. 10.
Proceeds will be used for working capital and general corporate purposes.
The telecommunications company is based in Limerick, Ireland.
| Issuer: | One Horizon Group, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $3 million
|
| Greenshoe: | $450,000, or 257,142 units
|
| Units: | 1,714,286
|
| Price: | $1.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $2.50
|
| Manager: | Aegis Capital Corp.
|
| Announcement date: | Aug. 4
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 10
|
| Stock symbol: | Nasdaq: OHGI
|
| Stock price: | $2.10 at close Aug. 3
|
| Market capitalization: | $74.1 million
|
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