News Column

MOKO Social Media Announces Closing of NASDAQ Initial Public Offering

July 1, 2014

NEW YORK & SYDNEY--(BUSINESS WIRE)-- MOKO Social Media Limited (NASDAQ GM: MOKO)(ASX:MKB), a provider of highly tailored mobile social community platforms containing premium and targeted mobile advertising to select audiences who need to share their content and information with their members, announced today that it has closed its previously announced U.S. initial public offering of 1.1 million American Depositary Shares (“ADSs”), each representing 40 ordinary shares of the Company, at a public offering price of US$7.50 per ADS.

The total gross proceeds of the offering were US$8.25 million, which would be increased to approximately US$9.5 million in the event of the exercise in full by the underwriters of their 30-day option to purchase up to an additional 165,000 ADSs solely to cover over-allotments, if any. The Company intends to use the net proceeds of the offering for general corporate purposes, including the hiring of additional technology staff in Australia and sales and marketing associates in the U.S., the purchase or lease of additional information technology infrastructure such as servers and ongoing business development.

Chardan Capital Markets and Northland Capital Markets acted as joint book-running managers for the initial public offering. Northland Capital Markets is the trade name for certain equity capital markets and investment banking activities of Northland Securities, Inc., member FINRA/SIPC. A copy of the prospectus related to the offering may be obtained from Chardan Capital Markets, LLC, 17 State Street, Suite 1600, New York, New York, 10004, Attn: Scott Blakeman or Northland Capital Markets, at 45 South 7th Street, Suite 2000, Minneapolis, MN 55402, Attn: Andrew Pafko, apafko@northlandcapitalmarkets.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 26, 2014. The offering is being made solely by means of a prospectus. This press release shall not constitute an offer to sell or a 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.

About MOKO Social Media

We provide customized mobile social community platforms to large organized groups that need to share content and to interact efficiently with their members on a regular basis. These customized mobile platform solutions are developed entirely by MOKO and then distributed at no charge to these groups and their members, in return for certain exclusive access and for advertising rights. We plan to commercialize these products with premium targeted mobile advertising.

We believe that we are different from traditional online social media because we build highly tailored mobile community applications that generic social networks generally do not. Our technology platform has been designed to enable a high degree of flexibility, permitting us to design and build customized applications. Our technology presently is represented by three products which are in the process of development and launch in the United States: REC*IT, RunHaven and “Blue Nation Review.”

Special Note on Forward-Looking Statements

This press release contains information that constitutes forward-looking statements and uses forward-looking terminology such as “anticipate” “propose” “expect” and “will,” negatives of such terms or other similar statements. You should not place undue reliance on any forward-looking statement due to its inherent risk and uncertainties, both general and specific. Although we believe the assumptions on which the forward-looking statements are based are reasonable and within the bounds of our knowledge of our business and operations as of the date hereof, any or all of those assumptions could prove to be inaccurate. Risk factors that could contribute to such differences include the performance of the United States and global capital markets and companies in our sector, as well as factors relating to the performance of our business, including intense competition we face; failure to innovate and provide products and services that are useful to users; our ongoing need for capital for investment in new and existing business strategies and new products, services and technologies, including through acquisitions; our dependence on advertising revenues; the potential for declines in our revenue growth rate and downward pressure on our operating margin in the future; increased regulatory scrutiny that may negatively impact our business; legal proceedings that may result in adverse outcomes; failure to maintain and enhance our brand; uncertainty as to our ability to protect and enforce our intellectual property rights; and uncertainty as to our ability to attract and retain qualified executives and personnel. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future intentions as of any date subsequent to the date of this press release.




LHA

Stephanie Prince, 212-838-3777

or

MOKO Social Media Limited

T: +61 2 9299 9690

F: +61 2 9299 9629

MOKOsocialmedia.com

contact@MOKO.mobi




Source: MOKO Social Media Limited


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