Apps Genius To Raise $1 Million In Registered Direct Offering
Apps Genius Corp. ("Apps Genius" or the "Company"), (OTCBB: APGS), today announced that it has entered into agreements with certain institutional investors for a registered direct placement of approximately $1 million of common stock at a price of $0.175 per share.
In addition, the Company will issue to the investors warrants to purchase up to 5,714,286 shares of common stock. The warrants have an exercise price of $0.25 per share and are exercisable for five years from the closing date.
The offering is expected to close on or about February 14, 2012, subject to satisfaction of customary closing conditions.
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for the transaction.The securities described above are being offered pursuant to a registration statement (File No. 333-175673), which was declared effective by the United States Securities and Exchange Commission ("SEC") on February 9, 2012. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. When filed with the SEC, copies of the prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov or by request at Rodman & Renshaw LLC, 1251 Avenue of the Americas, 20 th Floor, New York, NY 10020, or by calling 212-356-0549 or e-mailing firstname.lastname@example.org. About Apps Genius Corp Apps Genius Corp ( www.appsgenius.com) develops markets, publishes and distributes social games and software applications that consumers can use on a variety of platforms. The platforms include social networks, wireless devices such as cellular phones and smartphones including the Apple iPhone™ and standalone websites. Our Entertainment Division focuses on leveraging the fan base of existing social media and entertainment brands to market apps and games developed. To date, we have released several applications including 'Bed Bug Alert,' an informational tool for the Apple iPhone™, 'My Mad Millions,' a game application for Facebook™, 'Slap a Friend,' a game application for the Apple iPhone™, 'Bruisers,' a game application for Facebook™, and 'Crazy Dream' Application for Facebook™. Apps Genius Corp's goal is to develop and publish new titles on a recurring basis that are based on the same property and gaming platform. Examples of this franchise approach are 'My Mad Millions' and 'Rock The House,' currently under development, which both utilize the same underlying platform. A core focus of our Social Gaming and Mobile Application development is to allow users and players to reach across different networks into a virtual application or gaming environment such as Facebook, MySpace, iPhone and Android and be able to play games and use applications from all users no matter what environment they are using the application in. Safe Harbor Statement
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV