One Horizon Group Sells Shares

Shares of One Horizon Group fell 9% on Wednesday after the company said in a regulatory filing that it has entered into a securities purchase agreement with two investors to sell 317,461 shares of common stock at $0.63 per share, a 28% discount to Tuesday’s closing price. The sale will result in aggregate gross proceeds of approximately $200,000.

In connection with the purchase of the shares, the purchasers will receive a warrant to purchase up to the number of shares of the company’s common stock equal to 111,112 of the shares of common stock pursuant to the purchase agreement. The warrants have an exercise price of $0.80 per share, become exercisable on the date of issuance and expire three years from the date of issuance.

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