MGT Capital Investments concludes USD0.78m rights offering.
M2 EQUITYBITES-December 28, 2011-MGT Capital Investments concludes USD0.78m rights offering(C)2011 M2 COMMUNICATIONS http://www.m2.com
MGT Capital Investments Inc (AMEX: MGT.BC), a holding company with operations in the healthcare industry, announced on Tuesday that it has raised approximately USD780,000 in a direct rights offering to its shareholders.
The company said that all 31,240,472 shares, subject to subscription rights, were sold pursuant to the basic subscription privilege and the oversubscription privilege described in the prospectus. In addition, there were unfulfilled oversubscription requests to purchase an additional 9,996,453 shares.
The rights offering expired as of 17:00 hours, Eastern Time on 23 December 2011.
MGT, upon Amex's approval of its additional listing application relative to the shares subject to the rights offering, will issue the 31,240,472 shares purchased under the rights offering. At that time, the company will reportedly have 70,291,062 shares outstanding.
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