| Press Releases | |
|
FOR IMMEDIATE RELEASE
uWINK COMPLETES $10.4 MILLION EQUITY FINANCING LOS ANGELES—November 7, 2007 -- uWink, Inc. (OTC BB: UWKI - News), a developer of digital media entertainment software and an interactive restaurant concept, announced today that it has completed a $10.4 million registered equity financing. The proceeds of the raise will be used to fund new restaurant development and general working capital needs. Investors purchased approximately 5.2 million units at a purchase price of $2.00 per unit, each of which consists of one share of common stock and a warrant to purchase one share of the Company’s common stock at an exercise price of $2.40. The warrants are immediately separable from the units, immediately exercisable and will expire on the fifth anniversary of the date of their issuance. The net proceeds are expected to be approximately $9.3 million after deducting placement agent fees and offering expenses. “This financing marks an important inflection point in the growth of our company, highlighting market acceptance of our concept and technology while providing us with the capital to allow us to execute on our growth plans,” stated Nolan Bushnell, chairman and CEO of uWink. Merriman Curhan Ford & Co. (AMEX: MEM) acted as lead placement agent and Security Research Associates, Inc. acted as co-placement agent in this offering. A registration statement on Form SB-2/A (file No. 333-144029) relating to these units was filed with the Securities and Exchange Commission and declared effective on November 5, 2007. A copy of the prospectus related to the offering may be obtained from Merriman Curhan Ford & Co., 600 California Street, 9th Floor, San Francisco, CA 94108, Telephone 415-248-5600, Fax 415-248-5690. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of, the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About uWink: The uWink restaurant concept allows customers to order food, drinks, games and other digital media at the table through proprietary touch screen terminals. uWink, Inc. is led by entertainment and restaurant visionary Nolan Bushnell, founder and former CEO of Atari and Chuck E. Cheese. # # # This press release contains forward looking statements and information that are based upon beliefs of, and information currently available to, the Company's management as well as estimates and assumptions made by the Company's management. When used in this press release the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the negative of these terms and similar expressions as they relate to the Company's or the Company's management identify forward looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to the Company's industry, operations and results of operations and any businesses that may be acquired by the Company. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Media Contact: Alissa Tappan VP, Marketing and Public Relations uWink Cell-415-235-9532 This e-mail address is being protected from spam bots, you need JavaScript enabled to view it |
|