LAS VEGAS, Nov. 04, 2016 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (NASDAQ:FLL) announced today that it has concluded its rights offering. The Company will receive $5,000,000 in gross proceeds from the rights offering through the issuance of 3,846,154 shares of common stock at a price of $1.30 per share to rights holders. Shareholders directly subscribed for approximately 2.7 million shares under the rights offering, representing approximately 71% of the shares being offered. Shareholders also subscribed for more than 4.8 million shares via oversubscription rights, which significantly exceeded the number of available oversubscription shares. The balance of the deposited funds will be returned to subscribing shareholders imminently. Daniel R. Lee, President, Chief Executive Officer, and a director of the Company, and various family-related accounts exercised their basic subscription and oversubscription rights related to shares purchased prior to the offering, and will receive approximately 50,000 shares. In connection with the standby purchase agreement that the Company entered into with Mr. Lee on October 7, 2016, Mr. Lee also purchased one million additional shares, which are restricted shares under the rules of the Securities and Exchange Commission. Under the standby purchase agreement, Mr. Lee agreed to hold such shares for a minimum period. Thereafter, such shares will continue to be restricted under the general rules of the Securities and Exchange Commission. Mr. Lee received no other payment for providing the standby purchase agreement. With such purchases, Mr. Lee and his family will own approximately 5.6% of the Company's outstanding shares. In addition, Mr. Lee has stock options for an additional 1,043,834 shares. As of this date, approximately 43% of such options have vested in accordance with the related agreements. Other directors of the Company also exercised their basic and oversubscription rights in the rights offering, increasing total board ownership (including Mr. Lee) to approximately 13% of the Company's outstanding shares.