Earlier today Alliance MMA sent out a press release announcing a new public offering to the only publicly-traded mixed martial arts company. Click here for a .pdf version of the Report of Unscheduled material events or corportate events 8-K document filed with the Securities and Exchange Commission.
Press Release below:
ALLIANCE MMA, INC. (NASDAQ: AMMA) ,the only publicly-traded mixed martial arts (MMA) company, which is engaged in unifying elite regional promotions and cultivating the next generation of aspiring MMA champions, announced today the pricing of an underwritten public offering of 2,150,000 shares of its common stock and warrants to purchase up to an aggregate of 1,935,000 shares of common stock at an aggregate purchase price of $1.00. Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $2.2 million.
The Company has granted the underwriter a 45-day over-allotment option to purchase up to an additional 322,500 shares of its common stock and/or 290,250 warrants. The offering is expected to close on January 11, 2018, subject to customary closing conditions.
The Company intends to use the net proceeds from this offering for general corporate purposes, including the funding of possible future acquisitions, funding a litigation reserve, capital expenditures, investments and general working capital, and to satisfy a short-term bridge loan.
Maxim Group LLC is acting as the sole book-running manager for the offering.
This offering is being made pursuant to a shelf registration statement (File No. 333-221295), which was filed with the Securities and Exchange Commission (the “SEC”) and became effective on December 1, 2017. A preliminary prospectus supplement and accompanying base prospectus relating to the offering have been filed with the SEC and a final prospectus supplement and accompanying base prospectus will be filed with the SEC. Electronic copies of the preliminary prospectus supplement and, when available, electronic copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained from the SEC’s website at www.sec
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