YOU On Demand Announces 1.8 Mln Share Secondary Offering
YOU On Demand, 12/14/12
You On Demand Holdings (Nasdaq: YOD), which through subsidiary You On Demand Media operates a pay-per-view (PPV) and video-on-demand (VOD) platform in China, announced today the pricing of an underwritten public offering of its common stock. YOU On Demand has agreed to sell 1.8 mln shares of its common stock at a price of USD 1.50 per share. The shares are being sold under the Company's previously filed shelf registration statement on Form S-3 (File No. 333-183689), which was declared effective by the United States Securities and Exchange Commission (SEC) on September 12, 2012. The Company has also granted the underwriters a 30-day option to purchase up to 270,000 additional shares of common stock to cover over-allotments, if any. Subject to the satisfaction of customary conditions, the offering is expected to close on or about December 18, 2012.
Chardan Capital Markets, LLC acted as sole book-running manager of the offering and National Securities Corporation and Maxim Group LLC are acting as co-managers.
YOU On Demand intends to use the net proceeds from this offering for general corporate purposes, which may include working capital as well as marketing and promotion of its VOD and PPV services in China.
Keywords: financing television VOD You On Demand
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