NTN Buzztime Announces $1.6 Million Registered Direct Offering of Common Stock
NTN Buzztime Announces $1.6 Million Registered Direct Offering of Common Stock |
[27-June-2018] |
CARLSBAD, Calif., June 27, 2018 /PRNewswire/ -- NTN Buzztime, Inc. (NYSE MKT: NTN) today announced that it has entered into a subscription agreement with certain investors relating to a registered direct offering in which the company would sell up to 345,772 shares of its common stock to the investors at a per share purchase price of $4.50. The net proceeds to NTN from the offering is expected to be approximately $1.4 million after deducting estimated offering expenses, including placement agent fees. The offering is expected to close on or about June 29, 2018, subject to customary closing conditions.
Roth Capital Partners is acting as exclusive placement agent for the offering. The company intends to use the net proceeds of the offering for general corporate purposes, which may include working capital, general and administrative expenses, capital expenditures and implementation of its strategic priorities. The shares are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-215271), that was previously filed with the Securities and Exchange Commission ("SEC") and declared effective on February 2, 2017. A final prospectus supplement and accompany prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained, when available, by contacting Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-looking Statements About Buzztime: COMPANY CONTACT: Allen Wolff IR AGENCY CONTACT:
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Company Codes: AMEX:NTN |
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