|By PR Newswire||
|April 17, 2014 05:12 PM EDT||
CARLSBAD, Calif., April 17, 2014 /PRNewswire/ -- NTN Buzztime, Inc. (NYSE MKT: NTN) today announced that the underwriters of its previously announced underwritten public offering of common stock have exercised in full their option to purchase an additional 1,665,000 shares at a public offering price of $0.55 per share. The closing occurred on the same day. As a result, the company issued a total of 12,765,000 shares in the offering and will receive gross proceeds of approximately $7.0 million. The company will receive net proceeds of approximately $6.4 million from the offering after deducting underwriting discounts and estimated expenses relating to the offering.
Roth Capital Partners acted as the sole book-running manager for the offering.
The shares described above were issued pursuant to a prospectus supplement and accompanying prospectus, all as filed as part of a shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission ("SEC"). The company filed a final prospectus supplement relating to the offering with the SEC on April 11, 2014, which is available along with the accompanying prospectus filed with the SEC in connection with the shelf registration, on the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, (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.
NTN Buzztime, Inc. (NYSE MKT: NTN) is a leading bar and restaurant entertainment and marketing services platform. With over 4 million player registrations on the Buzztime platform and over 50 million games played each year, Buzztime players spread the word and invite friends and family to their favorite Buzztime location to enjoy an evening of fun and competition. With Buzztime entertainment and marketing solutions, bars and restaurants can turn casual visitors into regulars, and give guests a reason to stay longer.
Chief Financial Officer
NTN Buzztime, Inc.
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SOURCE NTN Buzztime, Inc.
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