Alta Global (NYSE American: MMA) is reporting on the pricing of its initial public offering. The offering consists of 1,300,000 ordinary shares at $5 per share. The offering, which is expected to close on April 2, 2024, is estimated to result in $6.5 million in gross proceeds before standard deductions and expenses. The announcement also noted that Alta Global granted the underwriters a 45-day option to purchase up to an additional 195,000 ordinary shares; the option was granted to cover any overallotments at the public offering price. A technology company, Alta Global is enabling the global martial arts and combat sports industry to maximize the monetization opportunities available by increasing consumer participation in the sport and building upon existing community offerings within the sector. According to the announcement, Alta Global plans to use the funds from the public offering for marketing and sales, product development, research and development, and other general corporate purposes including working capital, operating expenses and capital expenditures. ThinkEquity is acting as sole book-running manager for the offering.
To view the full press release, visit https://ibn.fm/qHo2l
About Alta Global Group Limited
Alta Global Group Limited is a technology company that is enabling the global martial arts and combat sports industry to maximize the monetization opportunities available to the sector by increasing consumer participation in the sport and building upon existing community offerings within the sector. While the company believes martial arts and combat sport gyms have a superb in-gym product, they are ripe for transformation when it comes to building sales channels, enhancing customer onboarding, optimizing engagement and driving the growth and retention of members and membership revenues within their gym communities. For more information about the company, please visit www.AltaGlobalGroup.com
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