RMG Networks Holding Corp. Announces Pricing of Public Offering of Common Stock
July 30 2013 - 8:07AM
Marketwired
RMG Networks Holding Corporation (NASDAQ: RMGN) announced today
that it has priced an underwritten public offering of 5,000,000
shares of its common stock, at a public offering price of $8.00 per
share. The company has granted the underwriters a 45-day option to
purchase up to an additional 750,000 shares of common stock. The
offering is expected to close on or about August 2, 2013, subject
to satisfaction of customary closing conditions. The company
intends to use the proceeds of the offering to pay down debt and
for general corporate purposes, including the funding of the
company's growth initiatives.
Roth Capital Partners is acting as sole book-running manager and
Northland Capital Markets is acting as co-manager in the
offering.
A registration statement on Form S-1 relating to this offering
was declared effective by the Securities and Exchange Commission
("SEC") on July 29, 2013. The securities may be offered only by
means of a prospectus. When available, a copy of the final
prospectus will be available on the SEC's website located at
www.sec.gov. Electronic copies of the final prospectus, when
available, also may be obtained from Roth Capital Partners, LLC,
Equity Capital Markets, 888 San Clemente Drive, Newport Beach, CA
92660, at 800-678-9147.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy 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 RMG NETWORKS
RMG Networks (NASDAQ: RMGN) is a global leader in intelligent
digital signage solutions, providing digital signage media
solutions, hardware, software and services to nearly 70% of the
Fortune 500. Its RMG Media Networks business unit engages elusive
audience segments with relevant content and advertising through
digital place-based networks, including the largest digital airline
media network, with a monthly audience of nearly 100 million
viewers. Its RMG Enterprise Solutions business unit provides data
visualization solutions for a variety of application areas
including contact centers, supply chain, employee communications,
hospitality, government/higher education and retail. The company is
headquartered in Dallas with offices in the United States, United
Kingdom, China, India and the U.A.E. For more information, visit
www.RMGNetworks.com.
FORWARD LOOKING STATEMENTS
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate," "expect," "estimate," "project," "intend," "plan,"
"believe," and words and terms of similar substance used in
connection with any discussion of future plans, actions, or events
identify forward-looking statements. Investors are cautioned that
such forward-looking statements, including statements with respect
to the anticipated consummation of the public offering are based on
current expectations that are subject to risks and
uncertainties.
A number of factors could cause actual results or outcomes to
differ materially from those indicated by such forward-looking
statements. These factors include, but are not limited to: the
company's success in retaining or recruiting, or changes required
in, its management and other key personnel; the potential
de-listing of the company's common stock from the Nasdaq Capital
Market; the potential liquidity and trading of the company's
securities; Reach Media Group's ("RMG") history of incurring
significant net losses and limited operating history; the
competitive environment in the advertising markets in which the
company operates; the risk that the anticipated benefits of the
combination of RMG or Symon Holdings Corporation, or of other
acquisitions that the company may complete, may not be fully
realized; the risk that any projections, including earnings,
revenues, margins or any other financial items are not realized;
changing legislation and regulatory environments; business
development activities, including the company's ability to contract
with, and retain, customers on attractive terms; the general
volatility of the market price of the company's common stock; risks
and costs associated with regulation of corporate governance and
disclosure standards (including pursuant to Section 404 of the
Sarbanes-Oxley Act); and general economic conditions.
Additional risks and uncertainties are identified and discussed
in the company's reports filed with the SEC and available at the
SEC's website at www.sec.gov. Forward-looking statements included
in this press release speak only as of the date of this press
release. The company undertakes no obligation to update its
forward-looking statements to reflect events or circumstances after
the date of this press release unless required by applicable
law.
Contact: For RMG Networks Holding Corporation Investor
Carolyn M. Capaccio 212-838-3777 Email Contact or Media
TallGrass Public Relations Shawn Roberts 415-305-6456 Email
Contact
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