Monaker Group, Inc. (OTCMKTS:MKGI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
From February 6, 2017 to March 10, 2017, Monaker Group, Inc. (the
Company, we and us) raised $1,550,000 from
the sale of 775,000 units, each consisting of one share of common
stock and one warrant to purchase one share of common stock (the
Units), to fourteen accredited investors in a private
offering, at $2 per Unit. Investors in the offering included an
entity owned by Don Monaco, the Companys director (100,000 Units
for $200,000), and Robert J. Post, the Companys director (50,000
Units for $100,000). The warrants have an exercise price of $2.00
per share and a term of three years, and include no cashless
exercise rights.
| Item 3.02 | Unregistered Sales of Equity Securities. |
We claim an exemption from registration for the issuances and
sales of the Units described above inItem 1.01(which descriptions
are incorporated in thisItem 3.02by reference) to Section 4(a)(2)
and/or Rule 506 of Regulation D of the Securities Act of 1933, as
amended (the Securities Act), since the foregoing issuances did
not involve a public offering, the recipients were accredited
investors, the recipients acquired the securities for investment
only and not with a view towards, or for resale in connection
with, the public sale or distribution thereof. The securities
were offered without any general solicitation by us or our
representatives. No underwriters or agents were involved in the
foregoing issuances and we paid no underwriting discounts or
commissions. The securities sold are subject to transfer
restrictions, and the certificates evidencing the securities
contain an appropriate legend stating that such securities have
not been registered under the Securities Act and may not be
offered or sold absent registration or to an exemption therefrom.
The securities were not registered under the Securities Act and
such securities may not be offered or sold in the United States
absent registration or an exemption from registration under the
Securities Act and any applicable state securities laws.
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit No. | Description | |||
| 10.1* |
Form of Subscription Agreement for Units (February and March 2017) |
|||
| 10.2* | Form of Warrant (February and March 2017 Subscriptions) | |||
* Filed herewith.
About Monaker Group, Inc. (OTCMKTS:MKGI)
Monaker Group, Inc., formerly Next 1 Interactive, Inc., is a technology driven travel and logistics company. The Company operates NextTrip.com, an online marketplace for the alternative lodging rental (ALR) industry. It operates through a segment consisting of various products and services related to its online marketplace of travel and related logistics, including destination tours/activities, accommodation rental listings, hotel listings, air and car rental. Its NextTrip.com has a capacity of uniting a range of travelers seeking ALR online with property owners and managers. As of February 29, 2016, the Company operated its online marketplace through 115 Websites in 16 languages, with Websites in Europe, Asia, South America and the United States. As of February 29, 2016, its global marketplace included approximately 100,000 paid listings on subscriptions and contracted with over 1.1 million listings under the performance based listing arrangement ALRs. Monaker Group, Inc. (OTCMKTS:MKGI) Recent Trading Information
Monaker Group, Inc. (OTCMKTS:MKGI) closed its last trading session down -0.04 at 2.51 with 34,603 shares trading hands.