Monaker Group Announces Pricing of $8.1 Million Underwritten Public Offering of Common Stock

Sunrise, FL, May 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Monaker Group, Inc. (NASDAQ: MKGI) (the “Company”), a technology solutions company focused on building a digital business ecosystem that caters to and ties together digital advertisers, consumers, video gamers and travelers, today announced the pricing of an underwritten public offering of 3,230,000 shares of its common stock at a public offering price of $2.50 per share, for gross proceeds to the Company of approximately $8.1 million, before deducting the underwriting discount and other offering expenses payable by the Company.

Kingswood Capital Markets, division of Benchmark Investments, Inc. is acting as the sole book-running manager for the offering.

The offering is expected to close on or about May 18, 2021, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 484,500 shares of its common stock on the same terms and conditions.

The Company intends to use the net proceeds from this offering to repay a portion of the amount owed under promissory notes held by Streeterville Capital, LLC, provide capital to International Financial Enterprise Bank, Inc. ("IFEB Bank"), in advance of the closing of the acquisition of control of IFEB Bank, for general corporate purposes and working capital or for other purposes that the board of directors, in their good faith, deems to be in the best interest of the Company.

The shares of common stock described above are being offered by Monaker Group, Inc. pursuant to a "shelf" registration statement on Form S-3 (File No. 333-224309) that became effective with the Securities and Exchange Commission (SEC) on July 2, 2018, the base prospectus contained therein and the accompanying prospectus supplement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering has been filed with the SEC. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained on the SEC's website at http://www.sec.gov or by contacting Kingswood Capital Markets, Attention: Syndicate Department, 17 Battery Place, Suite 625, New York, NY 10004, by email at [e-mail], or by telephone at [phone].