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Weston, Florida – 
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.
The shares of common stock
described above are being offered by Monaker Group, Inc. pursuant to a
“shelf” registration statement on Form S-3 (File No. 333-224309)
filed with the Securities and Exchange Commission (SEC) and the accompanying
prospectus contained therein. The offering of the shares of common stock is
being made only by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. A preliminary
prospectus supplement and the accompanying prospectus relating to and
describing the terms of the offering has been filed with the SEC. Copies of the
preliminary prospectus supplement and the accompanying prospectus relating to
this offering may be obtained on the SEC’s website at http://www.sec.gov or
by contacting Kingswood Capital Markets, Attention: Syndicate Department, 17
Battery Place, Suite 625, New York, NY 10004, by email at
syndicate@kingswoodcm.com, or by telephone at (212) 404-7002.
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.
About Monaker Group, Inc.
Monaker Group, Inc., is a
technology-driven company building what Monaker’s management believes to be a
next-generation company through acquisition and organic growth, leveraging the
strengths and channels of our existing technologies with those that we acquire,
creating synergy and opportunity in the leisure space. For more information
about Monaker Group, visit www.monakergroup.com and
follow on Twitter @MonakerGroup.
Forward-Looking Statements
This release includes
“forward-looking statements” within the meaning of, and within the safe harbor
provided by the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements give our current expectations, opinions, belief or forecasts of
future events and performance. A statement identified by the use of
forward-looking words including “will,” “may,” “expects,” “projects,”
“anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the other
foregoing statements may be deemed forward-looking statements. Although Monaker
believes that the expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that may cause
actual future activities and results to be materially different from those
suggested or described in this news release. Factors that may cause such a
difference include risks and uncertainties relate to completion of the public
offering on the anticipated terms, or at all, market conditions and the
satisfaction of customary closing conditions related to the public offering.
More information about the risks and uncertainties faced by Monaker will be
contained in, in and incorporated by reference in, the section captioned “Risk
Factors” in the prospectus supplement related to the public offering and are
detailed from time to time in Monaker’s periodic reports filed with the SEC,
including its most recent Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q. These reports are available at www.sec.gov. Other unknown
or unpredictable factors also could have material adverse effects on the
Company’s future results and/or could cause our actual results and financial
condition to differ materially from those indicated in the forward-looking
statements. Investors are cautioned that any forward-looking statements are not
guarantees of future performance and actual results or developments may differ
materially from those projected. The forward-looking statements in this press
release are made only as of the date hereof. The Company takes no obligation to
update or correct its own forward-looking statements, except as required by
law, or those prepared by third parties that are not paid for by the Company.
If we update one or more forward-looking statements, no inference should be
drawn that we will make additional updates with respect to those or other
forward-looking statements.
Contact:
Monaker Group, Inc.
info@monakergroup.com
Tel: (954) 888-9779
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