MoneyOnMobile, Inc. (OTCQB: MOMT) notifies it's right holders that its rights offering has been extended to expire on June 22, 2018, and to contact their financial advisor in regards to the timing and procedures for exercising their subscription rights, as all broker-dealers have different cut off dates and times for processing subscriptions in advance of June 22nd. Right holders should also be aware that a medallion stamp or notary are not required to complete the rights subscription.
As of yesterday, MoneyOnMobile has received approximately $5.4 million in aggregate irrevocable subscriptions for the purchase of common stock at $6.00 per share, exceeding the $4 million minimum objective and less than the $10 million maximum.
"We are excited to have the support of our shareholders during this rights offering. We have heard from many of the right holders who expressed a need for additional time to complete the paperwork required for participating in this offer. We note that the medallion stamp is not required for this process, despite previous instructions," said Harold Montgomery, CEO and Chairman.
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 rightsoffer@
As a reminder, this right offering allows its shareholders the opportunity to maintain or increase their respective ownership in the company by exercising their subscription rights. 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 at 4:00 p.m., Eastern Time, on May 11, 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). 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).
Calendar for 2018 rights offering:
Wednesday, May 16 Subscription Period Began
Friday, June 22 Subscription Period Ends by 5:00 PM ET
Details of the rights offering are set out in the registration statement on Form S-1/A, as amended, file number 333-223935, and related prospectus or prospectus supplement(s) filed with the SEC, which are available on the SEC's website at: http://bit.ly/MOMTsecEDGAR
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 rightsoffer@