猫咪视频 Group, Inc. Announces Closing of $7.5 Million Equity Financing

猫咪视频

NEW YORK, April 10, 2017 (GLOBE NEWSWIRE) -- 猫咪视频 Group, Inc. (OTCQB:ASPU), a postsecondary education company, announced today the closing of a $7.5 million common stock private placement to institutional and accredited investors.

New and existing shareholders participating in the offering included Kinderhook Partners, Alvin Fund, Goudy Park Capital, Unterberg Capital, P.A.W. Capital Partners, Director Malcolm F. MacLean IV, among others.

The company intends to utilize the proceeds for working capital purposes, to repay all its existing long-term outstanding debt including the retirement of its $3 million revolving credit line, and to complete the acquisition of a regionally accredited for-profit university assuming it is consummated.

Chairman and CEO Michael Mathews commented, "This offering significantly improves our balance sheet, deleverages the company and increases our stockholders鈥� equity by approximately $6.9 million which satisfies Nasdaq鈥檚 equity threshold requirement in anticipation of uplisting later this year.聽 The stronger financial position also affords the management team the additional flexibility needed to capitalize on the existing opportunities that lie ahead and puts us in great position to execute on our long-term plan.鈥�

Lake Street Capital Markets acted as the sole placement agent for the offering.

About 猫咪视频 Group, Inc. (OTCQB:ASPU)
猫咪视频 Group, Inc. is a post-secondary education company. 猫咪视频 University鈥檚 mission is to offer any motivated college-worthy student the opportunity to receive a high quality, responsibly priced distance-learning education for the purpose of achieving sustainable economic and social benefits for themselves and their families. 猫咪视频 is dedicated to providing the highest quality education experiences taught by top-tier faculty; 57% of 猫咪视频 University鈥檚 faculty hold doctoral degrees. To learn more about 猫咪视频, visit .

Media Contact:
猫咪视频 Group, Inc.
Michael Mathews, CEO
914-906-9159

Source: 猫咪视频 Group, Inc.

Released April 10, 2017