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Monaker Group Increases Indirect Ownership of Entity Which Controls Longroot ICO Crypto Portal .
Monaker Group, IncJanuary 7, 2021 GMT
WESTON, FL, Jan. 07, 2021 (GLOBE NEWSWIRE) via NewMediaWire Monaker Group, Inc. (NASDAQ: MKGI), an innovative technology company, today announced that, in exchange for a capital contribution, it has increased its indirect ownership stake to 75% in the entity that controls the Longroot initial coin offering (ICO) portal, Longroot (Thailand) Limited (“Longroot”). The additional capital is planned to be used to expand Longroot’s staff, operations, technology platforms and reporting capabilities. Longroot is currently one of only three ICO portals Licensed and Regulated by the Securities and Exchange Commission of Thailand, allowing it to provide financing, and investment services for digital assets to companies globally.
Monaker Group, Inc. (NASDAQ: MKGI), an innovative technology company,
today announced that it has entered into an underwriting agreement pursuant to which the underwriters have agreed to purchase on a firm commitment basis a minimum of 2,600,000 shares of common stock of the Company, at a price to the public of $2.50 per share (the “Public Price”). The closing of the offering is expected to occur on or about December 31, 2020, subject to customary closing conditions.
Kingswood Capital Markets, division of Benchmark Investments, Inc. and Aegis Capital Corp. are acting as the book-running managers for the offering.
The Company also has granted to the underwriters a 45-day option to purchase up to 15% of the offering at the Public Price.
Monaker Group, Inc. (NASDAQ: MKGI), an innovative technology company,
announced today that, due to demand, the underwriters have agreed to increase the size of its previously announced offering and purchase on a firm commitment basis 3,080,000 shares of common stock of the Company, at a price to the public of $2.50 per share (the “Public Price”). The closing of the offering is expected to occur on or about December 31, 2020, subject to customary closing conditions.
Kingswood Capital Markets, division of Benchmark Investments, Inc. and Aegis Capital Corp. are acting as the book-running managers for the offering.
The Company also has granted to the underwriters a 45-day option to purchase up to 15% of the offering at the Public Price. The gross proceeds to the Company before deducting underwriting discounts and commissions and estimated offering expenses and assuming no exercise of the option to purchase additional shares of common stock, are expected to be approximately $7.7