Monaker Completes $3 Million Private Placement; Continues to Prepare for NASDAQ Market Up Listing

Monaker Group (OTCQB:MKGI) has announced it has completed its previously announced private placement equity financing totalling $3 million.
As quoted in the press release:

 Certain insiders and board members also participated in the offering, representing $635,000 or approximately 21%, of the offering amount.
“This new capital provides us the means to further strengthen our B2B alternative lodging rental platform for mainstream travel companies eager to enter the vacation rental space, as well as prepare us for an up listing to the Nasdaq Capital Market,” noted Monaker CEO, Bill Kerby. “We believe this successful funding reflects the confidence of institutional investors in our unique business model and recognition of how our customizable booking platform — the first to offer 1.4 million instantly-bookable alternative lodging properties — will be a true game changer for the travel industry.”
Under the terms of a Common Stock and Warrant Purchase Agreement, purchasers in the offering received securities comprised of one common share and one warrant for a purchase price of $2.00. Each warrant entitles the holder to purchase one common share at an exercise price of $2.10 per share, with an expiration date five years from the date of the offering.

Click here to read the full press release.