Company sells 100,000 units of one common share and one full warrant
By Devika Patel
Knoxville, Tenn., Nov. 9 – Monaker Group, Inc. settled a $250,000 private placement of units with Monaco Investment Partners II, LP on Nov. 3, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 100,000 units of one common share and a warrant at $2.50 per unit.
Each warrant is exercisable at $1.50 until Sept. 30, 2016. The strike price reflects a 56.52% discount to the Nov. 2 closing share price of $3.45.
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: | $250,000
|
| Units: | 100,000
|
| Price: | $2.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Sept. 30, 2016
|
| Warrant strike price: | $1.50
|
| Investor: | Monaco Investment Partners II, LP
|
| Settlement date: | Nov. 3
|
| Stock symbol: | OTCBB: MKGI
|
| Stock price: | $3.45 at close Nov. 2
|
| Market capitalization: | $6.22 million
|
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