After two years of development, Right of Reply, a fast-growing block chain powered technology company dedicated to protecting the reputation of people and institutions on the Web by providing online and real world management tools, today announces the successful Placing of 291,000 new common (ordinary) shares at £7 (US$9.68) each, raising gross proceeds of £2,037,000 (US$2,816,880).
An 8K statement will be filed with the United States Securities and Exchange Commission (“SEC”) related to this placement.
Proceeds of the issue are being used to develop the Company’s products and services and for its acquisition strategy.
The Company will be filing a new Prospectus with the SEC to raise a further US$6,000,000 through the issue of 400,000 shares of new common stock at US$15 per share. This Prospectus will be used for RoR’s IPO which is scheduled for the 4th quarter of this year.
Right of Reply is a Social Impact technology company which provides easy to use reputation management tools to ensure anyone’s ability to counter unfair, inaccurate or incomplete reporting by putting the other side of the case with identical positioning and prominence as the original article www.ror.news, credit report www.roccnow.com or internet post and personal identity www.rorkey.com