DALLAS and MUMBAI, India, May 16, 2018 /PRNewswire/ -- MoneyOnMobile, Inc. (OTCQB: MOMTD) announces its rights offering subscription period begins today for a minimum of $4 million and maximum of $10 million. This rights offering allows its right holders the opportunity to increase their respective ownership in the company by exercising their subscription rights for $6 per share.
MoneyOnMobile distributed to its shareholders of record non-transferable subscription rights to purchase one share of MoneyOnMobile common stock for each share of common stock held or common stock issuable upon conversion of preferred stock held as of the Record date (May 11th, 2018). Holders who fully exercise their basic subscription privilege will be entitled to purchase additional shares of common stock via the over-subscription privilege (should any of the offering remain unsubscribed at the expiration of the subscription period). Right holders received one $6 exercise price non-tradable, non-transferable subscription right for every one share of common stock owned on the record date. This rights offering shall not exceed $10 million (approximately 1,666,667 million shares of Common stock) and be no less than $4 million (approximately 666,667 shares).
Finalized calendar for 2018 rights offering:
Details of the rights offering are set out in the registration statement on Form S-1/A, as amended, file number 333-223935 filed with the SEC, which is available on the SEC's website at: https://www.sec.gov/cgi-bin/browse-edgar?company=moneyonmobile&owner=exclude&action=getcompany
MoneyOnMobile intends to use the net proceeds from the rights offering to provide working capital to expand growth in India and for general corporate purposes.
MoneyOnMobile has engaged Advisory Group Equity Services, Ltd. doing business as RHK Capital as Dealer-Manager in the offering, Mackenzie Partners, Inc. as Information Agent and Securities Transfer Corporation as Subscription Agent. Questions about the rights offering or requests for copies of the prospectus, when available, may be directed to Mackenzie Partners at (800)322-2885 or email@example.com
About MoneyOnMobile, Inc.
MoneyOnMobile, Inc. is an India focused mobile payments technology and processing company offering mobile payment services. MoneyOnMobile enables Indian consumers to use mobile phones to pay for goods and services or transfer funds from one cell phone to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile has more than 350,000 retail locations throughout India.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on July 6, 2017. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Web site: www.MoneyOnMobile.in
Media Contact (Global):
Head of Global Communications
+1 (214) 208-0923
Integra Consulting Group, LLC
Jeremy G. Roe, Founder, Managing Partner
+1 (925) 262-8305
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