NetworkNewsBreaks – Function(x), Inc. (NASDAQ: FNCX) Prices $4.8M Common Stock Offering, Hits 52-Week Low

Function(x) (NASDAQ: FNCX) shares dropped to $1.02 this morning after the social publishing and interactive media platform priced its underwritten public offering of 4,571,428 shares of its common stock at a public price of $1.05 per share. Additionally, the company has allowed the underwriters a 45-day option to purchase up to an additional 685,714 shares of common stock to cover over-allotments, if necessary. Before deducting underwriting discounts, commissions and other estimated offering expenses, the gross proceeds are expected to be approximately $4,800,000. Subject to customary closing conditions, the offering is expected to close on March 1, 2017.

To view the full press release, visit: http://nnw.fm/3Xz27

About Function(x)

Function(x) operates Wetpaint.com and Rant. Wetpaint is a website for entertainment news for millennial women, covering the latest in television, music, and pop culture. Rant is a digital publisher with original content in multiple different verticals, most notably in sports, entertainment, and pets. Function(x) Inc. is also the largest shareholder of DraftDay Gaming Group, which is well-positioned to become a significant participant in the expanding fantasy sports market, offering a high-quality daily fantasy sports experience both directly to consumers and to businesses desiring turnkey solutions to new revenue streams. Function(x) Inc. also owns Choose Digital, a digital marketplace platform that allows companies to incorporate digital content into existing rewards and loyalty programs in support of marketing and sales initiatives. For more information, visit www.functionxinc.com

About NetworkNewsBreak

NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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