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Monaker Group (NASDAQ: MKGI) announced its participation in the A.G.P. Virtual Emerging Growth Technology Conference on February 4, 2021. Key executives, including CEO Bill Kerby, will meet with investors to discuss the company's transformation into a technology enterprise focusing on video gaming and travel platforms with innovations in AdTech, Blockchain, and AI. The firm aims to showcase its strategic acquisitions, including stakes in Axion Ventures and HotPlay, to enhance consumer engagement in the leisure sector.
Monaker Group has launched NextTrip Business, a subscription-based corporate travel and expense management SaaS solution aimed at small to medium-sized businesses. This platform allows users to track travel expenditures and book flights, accommodations, and transportation in one place. It features access to 3.4 million alternative lodging options and offers customizable travel spend policies. Additionally, a mobile app is set to launch, enhancing user experience. The company is also in the process of acquiring HotPlay Enterprise Limited, which will further its transformation into NextPlay Technologies.
Monaker Group, Inc. (NASDAQ: MKGI) filed its preliminary proxy statement with the SEC on January 13, 2021, seeking shareholder approval for the acquisition of HotPlay Enterprise Limited. This acquisition will enhance Monaker's portfolio in in-game advertising, utilizing innovative AI technology for seamless ad integration. The company aims to transform into NextPlay Technologies, focusing on consumer engagement in video gaming and travel sectors through advanced AdTech and Blockchain solutions. The filing marks a critical step towards completing the acquisition, following necessary SEC amendments and shareholder approvals.
Monaker Group, Inc. (NASDAQ: MKGI) has successfully completed a bought deal offering, with underwriters exercising their option to purchase an additional 462,000 shares at $2.50 each. This brings total gross proceeds to approximately $8.85 million, before deductions. The offering utilized a shelf registration statement filed with the SEC. Kingswood Capital Markets and Aegis Capital Corp. served as book-running managers. Investors are cautioned that future performance may differ due to inherent risks and uncertainties.
On January 11, 2021, Monaker Group (NASDAQ: MKGI) announced a formal engagement with Magnolia Quality Development Corporation (MQDC) as the financial advisor for a proposed ICO targeting $500 to $700 million. The ICO aims to fund Forestias, Thailand's largest property development project, valued at approximately $4.12 billion. Longroot, a controlled entity of Monaker, will manage this ICO and receive fees upon its closure, expected in Q2 2021. The initiative reflects Monaker's strategy to leverage technology and cryptocurrencies in the real estate sector.
Monaker Group, Inc. (NASDAQ: MKGI) has increased its indirect ownership in Longroot (Thailand) Limited to 75% through a capital contribution. The funds will enhance Longroot's operations, technology, and reporting capabilities. Longroot is one of only three regulated ICO portals in Thailand, enabling global digital asset financing. The cryptocurrency industry is projected to expand from US$3 billion in 2020 to US$39.7 billion by 2025, at a CAGR of 67.3%. This strategic move aligns with Monaker's plans for growth in the rapidly evolving digital assets sector.
Monaker Group, Inc. (NASDAQ: MKGI) announced an increase in its public offering of common stock due to high demand. The company will sell 3,080,000 shares at $2.50 each, aiming for gross proceeds of approximately $7.7 million before expenses. The offering's closing is expected around December 31, 2020, subject to customary conditions. A 45-day option for underwriters to purchase an additional 15% of the offering at the same price has also been granted. The shares are registered under Form S-3 with the SEC.
Monaker Group, Inc. (NASDAQ: MKGI) has announced an underwriting agreement for the purchase of at least 2,600,000 shares of common stock at a price of $2.50 per share. The offering is set to close on or around December 31, 2020, subject to customary conditions. The underwriters, Kingswood Capital Markets and Aegis Capital Corp., have a 45-day option to buy an additional 15% of the offering. The shares are offered under a shelf registration statement filed with the SEC. This press release does not constitute an offer to sell securities.
Monaker Group, Inc. (NASDAQ: MKGI) announced a significant 30% increase in its instantly confirmable Alternative Lodging Rental (ALR) properties, bringing the total to over 3.4 million. This growth coincides with new integrations with global travel distributors, enhancing the company's position as global travel resumes post-pandemic. The MBE’s API allows partners to book ALR properties instantly, facilitating seamless travel packages. Additionally, Monaker plans to acquire HotPlay Enterprise Limited, targeting expansion into technology-driven consumer products within the gaming and travel sectors.
Monaker Group, Inc. (NASDAQ: MKGI) will present at LD Micro’s Main Event on December 14-15, 2020. The company is evolving into a technology enterprise, integrating video gaming and travel with AdTech and AI solutions. Key points include their active M&A program, highlighting the acquisition of a 33% stake in Axion Ventures and a controlling stake in HotPlay, an in-game advertising firm. The presentation will be led by CEO Bill Kerby and will include a Q&A session. Investors can register for the virtual event and view the webcast on Monaker's website.
