PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Politis Communications

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

HandHeld Entertainment Raises $3.8 Million in a PIPE Offering - HandHeld Entertainment (NASDAQ: ZVUE, ZVUEW) today announced it has completed a PIPE offering which raised $3.83 million and is intended to expand the company’s user-generated content assets
HandHeld Entertainment Raises $3.8 Million in a PIPE Offering

 

NewswireToday - /newswire/ - Draper, UT, United States, 2007/01/18 - HandHeld Entertainment (NASDAQ: ZVUE, ZVUEW) today announced it has completed a PIPE offering which raised $3.83 million and is intended to expand the company’s user-generated content assets.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

HandHeld Entertainment today announced it has completed a PIPE offering (Private Investment in Public Equity) which raised $3.83 million and is intended to expand the company’s user-generated content assets, as well as provide capital for general working capital purposes.

In connection with the January 17, 2007 closing, the company issued approximately 1.3 million shares of common stock and two tranches of warrants to purchase common stock under the following terms:

• five-year warrants to purchase 957,500 shares of common stock with an exercise price of $3.50 per share (117 percent of the offering price), and

• five-year warrants to purchase 957,500 shares of common stock exercisable at $4.00 per share (133 percent of the offering price) which are exercisable commencing July 17, 2007. Following July, 17, 2007, the warrants are redeemable at the company’s option if the price of HandHeld Entertainment’s common stock trades above $5.20 per share for five consecutive trading days. Upon redemption, the company anticipates it could receive as much as $3.8 million in additional proceeds upon exercise of the warrants.

The company has agreed to file a registration statement with the United States Securities and Exchange Commission no later than January 31, 2007 and have it become effective no later than March 15, 2007. If the company is unable to meet these deadlines, then the exercise price of the investor warrants will decrease as specified in the subscription agreement.

“Since mid-November, we have acquired three Web sites that feature user-generated and user-submitted videos and other forms of media, and we plan to acquire more,” said Jeff Oscodar, president and chief executive officer of HandHeld Entertainment. “These acquisitions have created a network of Web properties that attracted more than 5 million unique visitors in December, more than a full year ahead of our plans. With these funds, we have an opportunity to move quickly to continue acquiring high-quality Web sites with significant traffic thereby accelerating our business plan in 2007.”

Following this transaction, HandHeld Entertainment has approximately 12.7 million shares of common stock outstanding and approximately 3.9 million warrants.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy 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 such state or jurisdiction.

About the ZVUE
HandHeld Entertainment’s ZVUE™ line of portable media players is available in approximately 2,000 Wal-Mart stores throughout the United States, as well as through other retailers and on the Internet. The SRP $99 (US) ZVUE plays videos and MP3 files and also allows users to view digital pictures from a digital camera or home video from a camcorder. HandHeld Entertainment also supplies Wal-Mart and InMotion Entertainment with the ZVUE MP3 player, an MP3 player pre-loaded with 30 of the top songs from 2006.

About HandHeld Entertainment, Inc.
HandHeld Entertainment is a digital-media-to-go company with a network of Web sites containing premium video and free downloadable media selections, including ZVUE.com™, the Free STUFF! section of ZVUE.com, as well as from Dorks.com™, FunMansion.com™ and YourDailyMedia.com™. Additionally, its ZVUE family of portable media players is available at mass-market prices in Wal-Mart stores across the United Sates. HandHeld Entertainment’s common stock and warrants are traded on the NASDAQ Capital Market (ZVUE, ZVUEW) and Boston Stock Market (HDE, HDEW).

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Politis Communications

 
 

Availability: All Metropolitan Area

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


HandHeld Entertainment Raises $3.8 Million in a PIPE Offering

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Jonathan Bacon 
801-523-3730 jbacon[.]politis.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Politis Communications securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Politis Communications / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

Frost & Sullivan Commends AutoGravity for Transforming Automotive Financing Industry
NYSE Governance Services and FTI Consulting Announce 17th Annual Corporate Law Firms Rankings
FTI Consulting and Asia Group Advisors Formalise Affiliate Relationship Across Asia Pacific
LexisNexis Receives 2017 Corporate Leadership Award from Freedom House for Activism in Advancing the Rule of Law
Societe Generale Named ‘Distinguished Provider of Transaction Banking Services’ by FImetrix
ALM Wins 2 Awards at 2017 Jesse H. Neal Awards
ALM’s ThinkAdvisor Launches Life/Health Channel
The National Law Journal Unveils Monthly Print Magazine
Societe Generale Selects HPD Software to Support its International Factoring Expansion
GE Closes Sale of Consumer Finance Business in France - Last Major Closing of GE Capital Exit Plan
Lazard Global Listed Infrastructure Fund Wins Two Lipper Fund Awards
Global Brands List of 2017 Awarded Elite Capital & Co. the Best Financial Brand in United Kingdom
FTI Consulting Receives Recognition in the Legal Industry
FinTech Start-ups Disrupt Business Models, Customer Engagement and Financial Services Delivery in Europe Finds Frost & Sullivan
Elite Capital & Co. Limited Signs Deal with ACB Investments Holding

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Explorers Vacation Club

Visit  BizJobs.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)