Full Press Release Details
Buzztime Announces Registered Direct Offering of Common Stock
Calif., November 1, 2016 - NTN Buzztime, Inc. (NYSE MKT: NTN) today announced that it entered into a subscription agreement
with certain investors relating to a registered direct offering in which the company would sell up to 418,172 shares of its common
stock to the investors at a per share purchase price of $6.64, which was the closing price of the common stock on October 31,
2016. The proceeds to NTN from the offering is expected to be approximately $2.7 million after deducting estimated offering expenses.
The offering is expected to close on or about November 4, 2016, subject to customary closing conditions.
company intends to use the net proceeds of the offering for general corporate purposes, which may include working capital, general
and administrative expenses, capital expenditures and implementation of its strategic priorities.
securities were offered by means of a prospectus supplement dated November 1, 2016 and accompanying prospectus dated January 9,
2014 forming a part of the company's registration statement on Form S-3 (Registration No. 333-193012), previously filed
with and subsequently declared effective by the Securities and Exchange Commission ("SEC"). These documents are available
for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, the company will arrange to send you the prospectus
if you request it by calling 760-438-7400.
press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
(NYSE MKT: NTN) delivers interactive entertainment and innovative dining technology to bars and restaurants in North America.
Venues subscribe to Buzztime's customizable solution to differentiate themselves via competitive fun by offering guests
trivia, card, sports and arcade games, nationwide competitions, personalized menus and self-service dining features. Buzztime's
platform improves operating efficiencies, creates connections among the players and venues, and amplifies guests' positive
experiences. Founded in 1984, Buzztime has accumulated over 9 million player registrations and over 115 million games were played
press release includes "forward-looking statements," including with respect to the proposed public offering and the
company's proposed use of proceeds. Forward-looking statements are subject to known and unknown risks and uncertainties,
many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is
not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking
information contained in this press release. In addition, forward-looking statements generally can be identified by the use of
forward-looking terminology such as "may," "plan," "seek," "will," "expect,"
"intend," "estimate," "anticipate," "believe" or "continue" or the
negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as
of the date of this press release, and, except as required by law, we do not undertake any obligation to update or revise any
forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Chapman/Becky Herrick, LHA Investor Relations