Monaker Group (MKGI) Prices 3.23M Share at $2.50/Sh

Monaker Group, Inc. (NASDAQ: MKGI) (the “Company”), a technology solutions company focused on building a digital business ecosystem that caters to and ties together digital advertisers, consumers, video gamers and travelers, today announced the pricing of an underwritten public offering of 3,230,000 shares of its common stock at a public offering price of $2.50 per share, for gross proceeds to the Company of approximately $8.1 million, before deducting the underwriting discount and other offering expenses payable by the Company.

Kingswood Capital Markets, division of Benchmark Investments, Inc. is acting as the sole book-running manager for the offering.

The offering is expected to close on or about May 18, 2021, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 484,500 shares of its common stock on the same terms and conditions.

The Company intends to use the net proceeds from this offering to repay a portion of the amount owed under promissory notes held by Streeterville Capital, LLC, provide capital to International Financial Enterprise Bank, Inc. ("IFEB Bank"), in advance of the closing of the acquisition of control of IFEB Bank, for general corporate purposes and working capital or for other purposes that the board of directors, in their good faith, deems to be in the best interest of the Company.

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