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January 5, 2013
15:14 EDTIDITiger Media announces divestiture of SMIL subsidiary
Tiger Media announced the divestiture of its SearchMedia International Limited subsidiary. As part of the transaction, SearchMedia International Limited, “SMIL,” will be divested to Partner Venture Holdings Limited, an independent third party private limited company, in exchange for 650,000 options of Tiger Media at $1.25 per share. The transaction also materially improves the balance sheet and capitalization of Tiger Media including eliminating $13.7M of goodwill, $21.3M of accounts payable, $5.4M in remaining acquisition consideration payable and $11.6M of income tax payable.
News For IDI From The Last 14 Days
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July 24, 2015
08:46 EDTIDIIDI, Inc announces $10M registered direct offering
IDI, Inc. announced that it has entered into an agreement with an institutional investor to purchase $10M of the company’s common stock in a registered direct offering and a concurrent private placement of warrants to purchase common stock. The company entered into a definitive purchase agreement with the investor pursuant to which the company agreed to sell 1,280,410 shares of its common stock at a per share price of $7.81 in a registered direct offering. Additionally, in a concurrent private placement, the company agreed to issue to the investor warrants to purchase 0.5 share of common stock for each share of common stock purchased in the registered direct offering at an exercise price of $10.00 per share, for a total of 640,205 shares of common stock. Chardan Capital Markets acted as the exclusive placement agent for this transaction.
July 21, 2015
12:41 EDTIDIIDI, Inc mentioned cautiously in a Seeking Alpha article
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