MoneyOnMobile, Inc. (OTCMKTS:MOMT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into Material Definitive Agreement.
final closing of a private placement offering (the Offering) to
subscription agreements (the Subscription Agreements) entered
into between the Company and various accredited investors. to the
Subscription Agreements, the Company sold an aggregate of
6,328,610 shares of the Companys Common Stock (Common Stock) and
five-year warrants (the Warrants) to purchase 1,265,725 shares of
Common Stock at an exercise price equal to $1.00 per share. The
Company received gross proceeds, in connection with the Offering,
equal to an aggregate $3,797,163, which proceeds were used for
general corporate purposes and to continue developing its Indian
business operations.
to the exemptions from registration provided by, among others,
Section 4(a)(2) of the Securities Act of 1933, as amended (the
“Securities Act”), and the provisions of Regulation D and
Regulation S as promulgated under the Securities Act.
Agreement and the warrants does not purport to be complete and is
subject to, and qualified in its entirety by reference to the
form of Subscription Agreements and Warrants, which are filed
herewith as Exhibit 99.1 and Exhibit 99.2, and are incorporated
herein by reference.
part of this Current Report on Form 8-K.
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Exhibit No.
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Description
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99.1
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Form of Subscription Agreements
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99.2
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Form of Warrants
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About MoneyOnMobile, Inc. (OTCMKTS:MOMT)
MoneyOnMobile, Inc., formerly Calpian, Inc., is an early-stage company. The Company operates through the MoneyOnMobile segment, which is a mobile wallet service used to pay for goods and services from a mobile phone and to make other financial transactions. MoneyOnMobile allows consumers, to deposit funds into their mobile wallet or to perform a financial transaction through its agent network of approximately 313,541 retail locations as of April 30, 2016. Consumers use their mobile phones to make certain routine payments for utilities or to transfer currency to other consumers using text-messaging and mobile application technology. MoneyOnMobile offers electronic wallet services (M-wallet), similar to carrying a prepaid debit card, however using the consumer’s mobile phone. MoneyOnMobile has a multi-lingual application. By using this application, customers, through its agent network, can pay for goods and services and send money anytime and anywhere. MoneyOnMobile, Inc. (OTCMKTS:MOMT) Recent Trading Information
MoneyOnMobile, Inc. (OTCMKTS:MOMT) closed its last trading session down -0.005 at 0.455 with 38,060 shares trading hands.