Mega Matrix Corp. Announced Closing of a Private Placement of $4.4 Million
20 October 2022 - 8:15AM
Mega Matrix Corp. (“MTMT” or the “Company”) (NYSE American: MTMT),
today announced that, on October 18, 2022, the Company has
completed its previously announced private placement for the
purchase of 4,400,000 shares of the Company’s common stock, $0.001
par value per share, at a purchase price of $1.00 per share. The
gross proceeds from the private placement were $4.4 million, before
deducting estimated offering expenses payable by the Company. The
Company intends to use the net proceeds from the Offering for
general working capital.
The securities offered in the private placement
have not been registered under the Securities Act of 1933, as
amended (the “Securities Act”), or applicable under state
securities laws. Accordingly, the securities may not be offered or
sold in the United States except pursuant to an effective
registration statement or an applicable exemption from the
registration requirements of the Securities Act and such applicable
state securities laws.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such jurisdiction.
About Mega Matrix : Mega Matrix
Corp. (the “Company”) is a holding company located in Palo Alto,
California with three subsidiaries: Saving Digital PTE.LTD., a
Singapore corporation (“Saving”), Mega Metaverse Corp., a
California corporation (“Mega”) and JetFleet Management Corp. a
California corporation (“JetFleet”). The Company focus on crypto
related business through Saving and Mega and will continue to focus
on third-party management service contracts for aircraft operations
through our majority owned subsidiary JetFleet, which was part of
our legacy business. For more information, please visit:
http://www.mtmtgroup.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
All statements in this press release other than statements that are
purely historical are forward-looking statements. When used in this
press release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose,” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees for future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
the Company’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward looking
statements. Important factors, among others, are: the ability to
manage growth; ability to identify and integrate other future
acquisitions; ability to obtain additional financing in the future
to fund capital expenditures; fluctuations in general economic and
business conditions; costs or other factors adversely affecting the
Company’s profitability; litigation involving patents, intellectual
property, and other matters; potential changes in the legislative
and regulatory environment; a pandemic or epidemic. The forward
looking statements in this press release and the Company’s future
results of operations are subject to additional risks and
uncertainties set forth under the heading “Factors that May Affect
Future Results and Liquidity” in documents filed by the Company
with the Securities and Exchange Commission, including the
Company’s quarterly reports on Form 10-Q and the Company’s latest
annual report on Form 10-K, and are based on information available
to the Company on the date hereof. In addition, such risks and
uncertainties include the Company’s inability to predict or control
bankruptcy proceedings and the uncertainties surrounding the
ability to generate cash proceeds through the sale or other
monetization of the Company’s assets. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable law. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date of this press release.
Investor Relations: info@mtmtgroup.com
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