PALO ALTO, Calif., Oct. 19, 2022 (GLOBE NEWSWIRE) — Mega Matrix Corp. (“MTMT” or the “Company”) MTMT, announced today that on October 18, 2022 the Company closed its previously announced private placement to purchase 4,400,000 common shares of the Company with a par value of $0.001 per share at a purchase price of $1.00 per share. Gross proceeds from the private placement were $4.4 million, before deducting estimated offering costs payable by the Company. The Company intends to use the net proceeds from the Offering for general working capital.
The securities offered under the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or under any state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to a valid 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 where such offer, solicitation or sale is pending registration or qualification would be unlawful under the securities laws of such jurisdiction.
About MegaMatrix: Mega Matrix Corp. (the “Company”) is a holding company based in Palo Alto, California with three subsidiaries: Saving Digital PTE.LTD., a Singapore company (“Saving”), Mega Metaverse Corp., a California company (“Mega” ) and JetFleet Management Corp., a California company (“JetFleet”). The Company is focused on crypto-related businesses through Saving and Mega and will continue to engage in third-party management service contracts through our subsidiary JetFleet, which was part of our legacy business for aircraft operations For more information, please visit: http://www.mtmtgroup.com.
