NTN Buzztime, Inc. (NYSE MKT: NTN) today announced that it intends to offer shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. - updated 4/11 - NTN Buzztime, Inc. (NYSE MKT: NTN) today announced the pricing of an underwritten public offering of 11,100,000 shares of its common stock at a price of $0.55 per share for gross proceeds of approximately $6.1 million. The company has also granted to the underwriters a 30-day option to purchase up to an additional 1,665,000 shares of common stock to cover overallotments in connection with the offering, if any. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $5.5 million, assuming no exercise of the overallotment option. The offering is expected to close on April 16, 2014, subject to customary closing conditions.
NTN Buzztime provides marketing services through interactive game content for hospitality venues that offer the games free to their customers. Co. is an entertainment network provider that helps its network subscribers to acquire, engage and retain their patrons. Co.'s games are available in over 3,600 locations in the U.S. and Canada. Co. owns several trademarks including the Buzztime and Play Along TV. Co.'s primary game titles, Countdown and Showdown are protected by both trademark and copyright registrations in the U.S.
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