DALLAS, TX and MUMBAI, INDIA / ACCESSWIRE / July 2, 2018 / MoneyOnMobile, Inc. (OTCQB: MOMT) announces that its subscription agent and escrow agent for the rights offering has received gross proceeds and subscriptions of $7,417,818 into escrow from 218 investors. Upon closing of the rights offering, the Company will issue to these investors 1,236,303 shares of its common stock. The closing of the rights offering is subject to its Common stock successfully listing on the Nasdaq Capital Market.
”We are grateful to our shareholders for their overwhelming support of our offering. We thank all the full-service brokers and financial advisors who assisted our shareholders throughout the offering. We are excited to see positive shareholder validation of our business model and acknowledgment of our recent growth and market opportunity. This capital infusion enables us to continue to execute our business plan and drive growth across our product lines,” said Harold Montgomery, chief executive officer and chairman.