GUANGZHOU, China, July 26, 2013 (GLOBE NEWSWIRE) -- China Mobile Games and Entertainment Group Limited ("CMGE" or the "Company") (Nasdaq:CMGE), a leading mobile game company in China, today announced that it has entered into an agreement with Champion Plus Group Limited, a subsidiary of Zennon Capital Partners, L.P., and Grand Synergy Limited, a subsidiary of New World Strategic Investment Limited, to sell in a private placement an aggregate of 2,500,000 American depositary shares ("ADSs") of the Company at US$10.00 per ADS for gross proceeds of US$25 million, before deducting offering expenses. The ADSs will be subject to a 180-day lock-up period. Champion Plus Group Limited will also receive warrants to purchase up to an aggregate of 100,000 ADSs of the Company that are exercisable at any time commencing six months after the closing date and over a two year period.
CMGE Announces US$25 Million Private Placement
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