Monaker slumps after pricing stock deal

Nextplay Technologies

14/05/2021 13:12

** Monaker Group  MKGI.O  shares down ~18% premarket after
travel co prices equity offering
    ** MKGI sells 3.23 mln shares at $2.50, raises ~$8.1 mln
 urn:newsml:reuters.com:*:nGNE3X4Ggp
    ** Offering prices at ~15% discount to stock's Thurs close
    ** Co to use net offering proceeds to repay portion of
promissory notes, provide capital to Puerto Rico-based
International Financial Enterprise Bank, ahead of acquisition of
the digital bank
    ** Offering size represents nearly 30% of co's free float,
per Refinitiv data
    ** YTD, MKGI shares up 29%

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))