NTN Buzztime (NTN) Enters ~$2.8M Common Stock Registered Direct Offering
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NTN Buzztime, Inc. (NYSE: NTN) announced that it entered into a subscription agreement with certain investors relating to a registered direct offering in which the company would sell up to 418,172 shares of its common stock to the investors at a per share purchase price of $6.64, which was the closing price of the common stock on October 31, 2016. The proceeds to NTN from the offering is expected to be approximately $2.7 million after deducting estimated offering expenses. The offering is expected to close on or about November 4, 2016, subject to customary closing conditions.
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 securities were offered by means of a prospectus supplement dated November 1, 2016 and accompanying prospectus dated January 9, 2014 forming a part of the company's registration statement on Form S-3 (Registration No. 333-193012), previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC"). These documents are available for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, the company will arrange to send you the prospectus if you request it by calling 760-438-7400.
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