AI Palma Holdings LLC disclosed in a regulatory filing ( SC 13G ) with the Securities and Exchange Commission (SEC) an 11.4% stake (3,999,998 shares) in Square, Inc. (SQ).
Square reported the closing of its initial public offering of 27,000,000 shares, and the exercise in full of the underwriters' option to purchase an additional 4,050,000 shares, of its Class A common stock at a price to the public of $9.00 per share.
Square, Inc. (SQ) creates tools that help sellers of all sizes start, run, and grow their businesses. Its point-of-sale service offers tools for every part of running a business, from accepting credit cards and tracking inventory, to real-time analytics and invoicing. The company also offers sellers financial and marketing services, including small business financing and customer engagement tools.
Kongzhong Corp. (KZ) said that it will sell part of its stake in Ourgame International Holdings Limited to Glassy Mind Holdings Limited.
As part of the deal (which is subject to customary closing conditions), Kongzhong agreed to sell 39.2 million shares in Ourgame to Glassy Mind Holdings for a total consideration of approximately HK$239.36 million (about $30.9 million), with roughly 80% of the total consideration to be paid in cash immediately upon the completion of the sale and the remaining consideration to be paid in cash on 30 September 2016.
Upon closing of the transaction, Kongzhong will continue to hold approximately 2.6% stake (20.74 million shares) in Ourgame
KongZhong is a leading online game developer and operator in China.
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