• Loading stock data...
PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » General » Monaker Completes $3 Million Private Placement; Continues to Prepare for NASDAQ Market Up Listing

Monaker Completes $3 Million Private Placement; Continues to Prepare for NASDAQ Market Up Listing

Randy Whitney by Randy Whitney
April 26, 2019
in General, Technology
3 min read
28
0
Monaker Enters Into Definitive Agreements For $3 Million Private Placement; Prepares for NASDAQ Market Listing

WESTON, FL–MKGI, (Marketwired – Aug 14, 2017) – Monaker Group, Inc. (OTCQB: MKGI), a technology-driven travel company, has completed its previously announced private placement equity financing with a group of institutional and accredited individual investors for gross proceeds of $3.0 million. Certain insiders and board members also participated in the offering, representing $635,000 or approximately 21%, of the offering amount.

“This new capital provides us the means to further strengthen our B2B alternative lodging rental platform for mainstream travel companies eager to enter the vacation rental space, as well as prepare us for an up listing to the Nasdaq Capital Market,” noted Monaker CEO, Bill Kerby. “We believe this successful funding reflects the confidence of institutional investors in our unique business model and recognition of how our customizable booking platform — the first to offer 1.4 million instantly-bookable alternative lodging properties — will be a true game changer for the travel industry.”

Under the terms of a Common Stock and Warrant Purchase Agreement, purchasers in the offering received securities comprised of one common share and one warrant for a purchase price of $2.00. Each warrant entitles the holder to purchase one common share at an exercise price of $2.10 per share, with an expiration date five years from the date of the offering.

The securities purchase agreement also requires Monaker to apply for a listing of its common shares on the NASDAQ Capital Market within 60 days following the closing of the offering, along with other terms and conditions as provided in the Form 8-K the company filed today with the U.S. Securities and Exchange Commission, which is available at www.sec.gov.

Monaker intends to use the net proceeds to expand its technology division and alternative lodging rentals offering, and for general corporate purposes.

About Monaker Group

Monaker Group is a technology-driven travel company focused on delivering innovation to alternative lodging rentals (ALR) market. The Monaker Booking Engine (MBE) delivers instant booking of more than 1.4 million vacation rental homes, villas, chalets, apartments, condos, resort residences and castles. MBE offers travel distributors and agencies an industry-first: a customizable instant booking platform for ALR. Monaker’s NextTrip.com B2C website, powered by the MBE, is the first to offer significant instantly-bookable ALR products along with mainstream travel products and services, all on a single site. NextTrip also features rich content, imagery and high-quality video to enhance a traveler’s booking experience and assist in the search, decision and buying process for both individuals and groups. For more information, visit www.monakergroup.com.

Important Cautions Regarding Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker Group. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, or the expectations of future growth may not be realized and the company may not meet applicable NASDAQ Capital Market uplisting requirements and/or may not be approved for uplisting. These forward-looking statements are made only as of the date hereof, and Monaker Group undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are expressly qualified in their entirety by the “Risk Factors” and other cautionary statements included in Monaker Group’s annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, the company’s Annual Report on Form 10-K for the period ended February 28, 2017 which has been filed with the SEC and is available at www.sec.gov.

Tags: equity financingMKGIMonakerNASDAQPrivate Placement
Randy Whitney

Randy Whitney

Randy is a marketing specialist with experience creating content for sports and real estate in New York City. He has written for Major League Baseball and Cut4 as well as contributed creatively to the growth and development of startups around the country.

Related Posts

Trump Retweets Richard Grenell’s Call to Ban Microsoft from Federal Contracts
Technology

Trump Retweets Richard Grenell’s Call to Ban Microsoft from Federal Contracts

June 12, 2020
155
China Opposed U.S. Audit Plans
General

China Opposed U.S. Audit Plans

May 24, 2020
135
Tiktok named its new CEO Kevin Mayer
Social Media

TikTok Named Kevin Mayer as its new CEO to Lead its U.S. Operations

May 19, 2020
153
Virgin Galactic
Technology

Richard Branson to Sell More Than a Fifth of Virgin Galactic Shares

May 12, 2020
116
JetBlue gives 100,000 free flights to healthcare workers.
General

JetBlue Announces ‘JetBlue Healthcare Hero’ Program — Giving Away 100,000 Free Flights to Healthcare Workers

May 6, 2020
166
Uber removes 3,700 employees or 14% of its global workforce
Technology

Uber Slashed 14% of its Global Workforce to Compensate COVID-19 Pandemic Losses

May 6, 2020
135
Currently Playing

Subscribe To Our Newsletter

Ad

PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2020 PublicWire.com

Navigate Site

  • About
  • #96576 (no title)
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • #370 (no title)

© Copyright 2020 PublicWire.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Public Wire Logo

Hello please subscribe to our newsletter to get up to date news weekly!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.