SAN DIEGO--(BUSINESS WIRE)--Monster Offers (OTCBB: MONT) announced today that it has signed a $10 million equity financing agreement with Boston-based institutional investor, Auctus Private Equity Fund, LLC. The financing is subject to an S-1 Registration Statement being declared effective by the U. S. Securities and Exchange Commission. The company expects to file the S-1 Registration by January 28, 2011.
“This funding commitment provides us with a high degree of flexibility and control, allowing us to focus on our aggressive product roadmap, acquisition, and revenue generation strategies” said Paul Gain, CEO of Monster Offers.
Monster Offers plans to register existing shares from its treasury for the Auctus Private Equity Fund, LLC to avoid shareholder dilution. “Our goal is to leverage this funding without dilution to our existing shareholders,” added Paul Gain.
A more detailed description of the agreement is set forth in the Monster Offers Form 8-K filing with the SEC, which is or will become available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov.
About Monster Offers
Monster Offers is an emerging social media and technology company specializing in online commerce solutions for consumers, Fortune 1000 Companies and Nonprofit Organizations. The Company’s website is www.monsteroffers.com.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, the risks associated with the management appointment described in this press release, and other risks identified in the filings by Monster Offers (MONT), with the Securities and Exchange Commission. Further information on risks faced by MONT are detailed in the Form 10-K for the year ended December 31, 2009, and in its subsequent Quarterly Reports on Form 10-Q. These filings are or will become available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. Monster Offers does not undertake any obligation to publicly release the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.