YOU On Demand announces 1,800,000 common secondary offering
Louise Duffy | 14-12-2012
Chinese VOD and pay per view (PPV) platform YOU On Demand has announced the pricing of an underwritten public offering of its common stock. It has agreed to sell 1,800,000 shares of its common stock at $1.50 per share.
The company has also granted the underwriters a 30-day option to purchase up to 270,000 additional shares of common stock to cover over-allotments, if any. Subject to the satisfaction of customary conditions, the offering is expected to close on or about 18 December 2012.
YOU On Demand intends to use the net proceeds from this offering for general corporate purposes, which may include working capital as well as marketing and promotion of its VOD and PPV services in China.