Mega Matrix Corp. Announced Closing of a Private Placement of $4.4 Million

October 20, 2022

https://www.globenewswire.com/news-release/2022/10/19/2537917/0/en/Mega-Matrix-Corp-Announced-Closing-of-a-Private-Placement-of-4-4-Million.html

PALO ALTO, Calif., Oct. 19, 2022 (GLOBE NEWSWIRE) — Mega Matrix Corp. (“MTMT” or the “Company”) (NYSE American: MTMT), today announced that, on October 18, 2022, the Company has completed its previously announced private placement for the purchase of 4,400,000 shares of the Company’s common stock, $0.001 par value per share, at a purchase price of $1.00 per share. The gross proceeds from the private placement were $4.4 million, before deducting estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for general working capital.‎

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