Majesco Concludes 2019 Rights Offering
Morristown, NJ February 26, 2019 – Majesco (NASDAQ: MJCO), a global provider of cloud insurance software solutions for insurance business transformation, today announced the completion of its previously announced rights offering pursuant to which 6,123,463 shares of Majesco’s common stock will be issued, resulting in gross proceeds to Majesco of approximately $43.5 million. Pursuant to the rights offering, Majesco issued one right for each share of common stock to shareholders of record as of February 5, 2019. Holders of the rights were entitled to purchase shares of common stock by submitting six rights and $7.10 for each share to be purchased. The rights offering expired at 5:00 p.m. Eastern Time on February 25, 2019.
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services