HONG KONG, Sept. 9, 2014 /PRNewswire/ -- Entertainment
Gaming Asia Inc. (NASDAQ: EGT) ("Entertainment Gaming Asia" or "the
Company"), a gaming company focused on emerging gaming markets in
Pan-Asia, today announced that it has set a record date of
September 15, 2014 for its proposed
offering of subscription rights to purchase shares of its common
stock at a price of $0.54 per
share.
On August 13, 2014, the Company
filed with the U.S. Securities and Exchange Commission ("SEC") a
Registration Statement on Form S-1 with respect to the
offering. The rights offering will be made to the holders of
record of the Company's common stock as of September 15, 2014. Each shareholder as of the
record date will receive 0.92278 non-transferable subscription
rights for each share of common stock held by the shareholder as of
the record date. Each subscription right will allow its holder to
purchase one share of common stock of the Company, at a price of
$0.54 per share, over the 30-day
period following the date of distribution. The Company intends to
apply the proceeds from the rights offering towards the development
of future casino and gaming club projects, expanding its slot
participation operations and general working capital for its gaming
products division.
The rights offering is subject to the effectiveness of the
Registration Statement filed with the SEC.
A registration statement relating to these securities has
been filed with the Securities and Exchange Commission but has not
yet become effective. These securities may neither be sold nor may
offers to buy be accepted prior to the time the registration
statement becomes effective. Persons wishing to receive a
written prospectus for the rights offering may contact:
Morrow & Co., LLC
By telephone: (203) 658-9400 or (800) 662-5200
By email: egtinfo@morrowco.com
SOURCE Entertainment Gaming Asia Inc.