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NextPlay Technologies (NASDAQ: NXTP) announced the completion of its acquisition of International Financial Enterprise Bank (IFEB), headquartered in Puerto Rico, on July 21, 2021. The acquisition included a total consideration of $11.2 million—$6.4 million for a 57.1% stake, and $4.8 million paid through the issuance of shares for the remaining stake. With the acquisition, NextPlay aims to enhance its Fintech solutions, including online banking and mobile services, while rebranding IFEB to NextBank International.
NextPlay Technologies, Inc (NASDAQ: NXTP) announced the appointment of Nithinan (Jessie) Boonyawattanapisut as co-CEO. She brings extensive experience as the founder of HotPlay Enterprise and has held leadership positions in several tech companies. Co-CEO Bill Kerby emphasized her technical expertise and industry connections, which will advance NextPlay's digital strategy and revenue opportunities. Boonyawattanapisut expressed her excitement about leading the company's strategic direction, collaborating with Bill and the team to position NXTP for success in the digital advertising and gaming sectors.
NextPlay Technologies has appointed Mark Vange as Chief Technology Officer. Vange brings extensive experience in technology and game development, including previous roles at HotPlay Thailand and Electronic Arts. His appointment is expected to enhance NextPlay’s technology initiatives, particularly in in-game advertising and blockchain systems. Co-CEO Bill Kerby expressed optimism regarding Vange’s contributions towards maximizing revenue through innovative technology. NextPlay operates a digital ecosystem involving games, crypto-banking, and travel services, all aimed at leveraging advanced advertising and fintech solutions.
NextPlay Technologies, Inc. (NASDAQ: NXTP) has appointed Ms. Carmen Diges to its Board of Directors. With over 20 years of experience as a senior attorney and corporate advisor, Ms. Diges brings valuable expertise to the company. She currently serves as General Counsel for McEwen Mining and has held leadership roles in various law firms. Co-CEO Bill Kerby expressed confidence in Ms. Diges' ability to help close deals and attract new business, strengthening the company's strategic direction.
Monaker Group, Inc. is transitioning to NextPlay Technologies, Inc., trading under the ticker NXTP starting July 9, 2021. This name change follows the acquisition of HotPlay Enterprise Limited, which enhances NextPlay's digital ecosystem in gaming, advertising, and fintech. The company aims to leverage synergies across its offerings, including AI-powered advertising technology and connected TV services. Shareholders are not required to take action regarding the name or ticker change. A new website is set to launch by July 12, 2021.
Monaker Group, Inc. (NASDAQ: MKGI) has received NASDAQ approval for NextPlay Technologies' listing and closed its acquisition of HotPlay Enterprise Limited, effective June 30, 2021. Monaker issued 52 million shares to HotPlay stockholders, making HotPlay a wholly-owned subsidiary. This strategic acquisition enhances Monaker's offerings in AI-powered advertising technology and digital couponing, aiming to leverage synergies across its various technology platforms. The company plans to rename itself NextPlay Technologies and expects to trade under the ticker NXTP on NASDAQ soon.
Monaker Group, Inc. (MKGI) announced its inclusion in the Russell Microcap® Index, effective June 28, 2021. This recognition is based on objective market capitalization rankings, confirming the company's growing presence in the market. CEO Bill Kerby expressed optimism about this milestone, viewing it as validation of their business strength as they transition to NextPlay Technologies, following their acquisition of HotPlay Enterprise Limited. Russell indexes are widely used for investment benchmarks, managing assets totaling approximately $10.6 trillion.
Monaker Group (NASDAQ: MKGI) has received regulatory approval from Puerto Rico's Office of the Commissioner of Financial Institutions to proceed with its acquisition of a 57.6% stake in International Financial Enterprise Bank (IFEB) for $6.5 million. The acquisition allows Monaker to eventually acquire 100% ownership and rebrand IFEB as Next Bank International. This acquisition is expected to enhance Monaker's fintech capabilities, including mobile and online banking services, while supporting its Longroot ICO portal. IFEB's services are projected to capitalize on the growing cryptocurrency market, expected to surge to $39.7 billion by 2025.
Monaker Group (NASDAQ: MKGI) has been invited to present at the Summer Solstice Best Ideas from the Buy-Side Conference from June 1-4, 2021. CEO Bill Kerby will speak on June 1 at 11:30 a.m. Eastern, discussing the company's growth strategies through organic development and acquisitions, especially its merger with HotPlay and rebranding to NextPlay Technologies (NASDAQ: NXTP). The firm aims to enhance its digital ecosystem, integrating platforms in AdTech, fintech, and gaming, among others, to connect brands and consumers across various media channels.
Monaker Group, Inc. (NASDAQ: MKGI) announced the closing of a public offering of 3,714,500 shares at $2.50 per share, generating approximately $9.3 million in gross proceeds. The offering included the full exercise of underwriters’ over-allotment option and closed on May 18, 2021. The funds will be used to repay promissory notes, provide capital for the acquisition of International Financial Enterprise Bank, and for general corporate purposes. Kingswood Capital Markets served as the sole book-running manager for the offering.
