MOKO Social Media Announces Pricing of Underwritten Public Offering

MOKO Social Media Limited (NASDAQ:MOKO) has announced the pricing of an underwritten public offering of 1,500,000 of its American Depositary Shares (“ADSs”). The price to the public will be $1.70 per ADS. Each ADS represents the right to receive 40 of MOKO Social Media Limited’s ordinary shares.
According to the press release:

The gross proceeds to MOKO Social Media Limited from this offering are expected to be approximately $2,550,000, before deducting underwriting discounts and commissions and other estimated offering expenses. MOKO Social Media Limited has granted the underwriters a 45-day option to purchase up to an additional 225,000 ADSs to cover over-allotments, if any. The offering is expected to close on November 4, 2015, subject to customary closing conditions.
Aegis Capital Corp. acted as the sole book-running manager for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on August 7, 2015.

Click here to read the full press release.