RMG Networks Holding Corp. Announces Partial Exercise of Underwriters' Over-Allotment Option
August 19 2013 - 6:00AM
Marketwired
RMG Networks Holding Corporation, or RMG Networks, (NASDAQ: RMGN)
announced that the underwriters of its previously announced public
offering of common stock have exercised a portion of their
over-allotment option, purchasing an additional 365,000 shares of
common stock at the public offering price of $8.00 per share, less
underwriting discounts and commissions. Proceeds from the exercise
of the option will be approximately $2.716 million, after deducting
underwriting discounts and commissions. The over-allotment option
exercise closed on August 16, 2013.
Roth Capital Partners acted as sole book-running manager and
Northland Capital Markets acted as co-manager in the offering.
As previously announced, the company intends to use the net
proceeds from the offering, including the net proceeds from the
exercise of the over-allotment option, to pay down debt and for
other general corporate purposes, which may include the funding of
growth initiatives, capital expenditures, working capital and/or
strategic acquisitions.
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. A copy of the final prospectus is available
on the SEC's website located at www.sec.gov. Electronic copies of
the final prospectus 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 any of the securities described
herein, 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 the digital
signage media industry. The company delivers digital signage media
solutions for corporate networks, consumer networks, and
advertising networks, including solutions for 70% of the Fortune
500. RMG operates an Advertising Media business unit that sells
digital video advertising across a network of over 200,000 display
screens, reaching 100 million consumers each month. RMG also
operates an Enterprise Solutions business unit that provides
digital signage data visualization solutions for a variety of
application areas including contact centers, supply chain, employee
communications, hospitality, higher education, financial services,
healthcare and retail. The company is headquartered in Dallas,
Texas with offices in the United States, United Kingdom, China,
India, the U.A.E. and Singapore. For more information, visit
www.RMGNetworks.com.
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: "anticipate,"
"intend," "plan," "goal," "seek," "believe," "project," "estimate,"
"expect," "strategy," "future," "likely," "may," "should," "will"
and similar references to future periods. Examples of
forward-looking statements include, among others, statements we
make regarding guidance relating to future financial performance,
expected operating results, such as revenue growth, and efforts to
grow our business.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: the company's success in
retaining or recruiting, or changes required in, its management and
other key personnel; 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.
Any forward-looking statement made by us in this press release
is based only on information currently available to us and speaks
only as of the date on which it is made. We undertake no obligation
to publicly update any forward-looking statement, whether written
or oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
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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
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