Business
hopTo Announces Approximately $2.5 Million in Private Financing
hopTo Announces Approximately $2.5 Million in Private Financing.
About this update from Hopto Inc.
[{"type":"text","content":"\n\n\n\nhopTo Announces Approximately $2.5 Million in Private Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nhopTo Announces Approximately $2.5 Million in Private Financing\nProceeds to be Used to Support Go-To-Market for hopTo Work\n--Investment Includes Participation by Board and Management--\nPR Newswire\nCAMPBELL, Calif., July 29, 2015\n\n\n\nCAMPBELL, Calif., July 29, 2015 /PRNewswire/ -- hopTo Inc. (OTCQB: HPTO), developer and provider of the most comprehensive mobile productivity platform, today announced that it has sold approximately $2.5 million of its common stock to institutional investors, hopTo directors and hopTo executives in a private placement.  Members of hopTo's Board and executive management invested $220,000 of the total proceeds.  hopTo entered into securities purchase agreements with the investors, board members and executives pursuant to which it sold an aggregate of approximately 31,589,000 shares of its common stock.  The shares were sold for a purchase price of $0.08074 per share without any warrants or other similar securities.\n\nThe funding provided by the offering will support hopTo's continued operations and go-to-market strategy for hopTo Work.\n\nThe securities sold in this private placement have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements. As part of the transaction, the Company has agreed to file a resale registration statement on Form S-1 with the Securities and Exchange Commission within 45 days of the closing for purposes of registering the resale of the shares of common stock and shares underlying the warrants issued in the private placement.\n\nThis press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualifi...