By a News Reporter-Staff News Editor at Investment Weekly News -- On December 30, 2013 , MGT Capital Investments, Inc. (NYSE MKT: MGT) entered into an At the Market Offering Agreement (ATM) with Ascendiant Capital Markets, LLC . Pursuant to the Agreement, the Company may offer and sell shares of its common stock having an aggregate value of up to $8,500,000 from time to time. Any shares sold will be issued pursuant to the Company's existing effective shelf Registration Statement on Form S-3 filed with the Securities and Exchange Commission on September 25, 2012 , as updated by a prospectus supplement. Ascendiant will act as the Company's agent to sell the shares offered, solely as instructed by the Company, and is not required to sell any specific number or dollar amount of shares. Such instructions will include notice as to the maximum amount of shares to be sold at any time and the minimum price at which such shares may be sold, which shall not be less than $2.50 per share. In briefly describing the ATM Agreement, Robert Traversa , MGT's Chief Financial Officer, stated, "ATM's are a tremendously valuable tool for growing companies. The advantages of this method of raising capital are control, flexibility, lower market impact, and much lower cost. Ending 2013 with approximately $4.8 million in cash and no debt, MGT can afford to be opportunistic and disciplined," Mr. Traversa concluded. Keywords for this news article include: Investment and Finance, MGT Capital Investments Inc. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC
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