Motricity, Inc.
MOTR today announced the results of its previously announced rights
offering (the "Rights Offering").
Pursuant to the Rights Offering, on July 23, 2012, the Company distributed
46,163,685 subscription rights to the holders of its common stock. Each
subscription right entitled the holder thereof to purchase, for a subscription
price of $0.65 per unit, a unit consisting of 0.02599 shares of 13% Redeemable
Series J Preferred Stock (the "Series J Preferred Stock") and 0.21987 warrants
to purchase a share of common stock at an exercise price of the greater of
$0.65 and 120% of the closing price of the common stock on the date of
issuance (the "Common Stock Warrants"). The Rights Offering expired on October
3, 2012 and the exercise price for the Common Stock Warrants was fixed at
$0.65.
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