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YOU On Demand Closes Strategic Investment from Seven Stars Works for $4 million USD
NEW YORK, July 20,    2016 /PRNewswire/ -- YOU On Demand Holdings, Inc. (NASDAQ: YOD) ("YOU On    Demand" or "YOD" or the "Company"), a premium content Video On Demand service    provider in China evolving into a global,    mobile-driven, consumer management platform for both enterprises and consumers,    announced today that the Company closed on a strategic investment from Seven Stars    Works Co., Ltd., a Korea company ("SSW") and an affiliate of Beijing Sun Seven Stars    Culture Development Limited, a PRC company ("SSS"). SSS is controlled by the chairman    of YOU On Demand's Board of Directors, Bruno    Wu
   

Pursuant to the terms of the Security Purchase Agreement ("SPA"), which was filed    with the U.S. Securities and Exchange Commission on July 13,    2016 by YOU On Demand in its current report on Form 8-K, the Company has    agreed to sell and issue 2,272,727 shares of the Company's common stock to SSW for    $1.76 per share, or a total purchase price of    $4.0 million USD. The SPA contains customary    representations, warranties and covenants.

   

YOU On Demand intends to use the net proceeds of the transaction for M&A    activity, licensed content procurement and general working capital purposes.

   

About YOU On Demand Holdings, Inc. (http://corporate.yod.com)

   

YOU On Demand (NASDAQ: YOD) is leveraging and optimizing its current    operations as a premium content Video On Demand service provider in China to evolve into a global, B2B2C, mobile-driven, consumer    management platform for both enterprises and consumers.  By aiming to establish    the world's premier multimedia, social networking and e-commerce-enabled network with    the largest global effective connected user base, YOU On Demand, through this    expanded, cloud-based, ecosystem of connected screens combined with strong    partnerships with leading global providers, will be capable of delivering a vast    array of YOD–branded products and services to enterprise customers and end-use    consumers - anytime and anywhere, across multiple platforms and devices. 

   

YOU On Demand has content distribution agreements in place with many    of Hollywood's top studios including Disney Media Distribution, Paramount    Pictures, NBC Universal and Twentieth Century Fox Television Distribution, Miramax,    as well as a broad selection of the best content from Chinese filmmakers.  In    addition, the Company has governmental partnerships and licenses as well as numerous    JV partnerships and strategic cooperation agreements with an array of distribution    and content partners in the global new media space. YOU On Demand is headquartered in    both New York, NY and Beijing, China.

   

Safe Harbor Statement

   

This press release contains certain statements that may include "forward looking    statements." All statements other than statements of historical fact included herein    are "forward-looking statements." These forward looking statements are often    identified by the use of forward-looking terminology such as "believes," "expects" or    similar expressions, involve known and unknown risks and uncertainties. Although the    Company believes that the expectations reflected in such forward-looking statements    are reasonable, they do involve assumptions, risks and uncertainties, and these    expectations may prove to be incorrect. You should not place undue reliance on these    forward-looking statements, which speak only as of the date of this press release.    The Company's actual results could differ materially from those anticipated in these    forward-looking statements as a result of a variety of factors, including those    discussed in the Company's periodic reports that are filed with the Securities and    Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to    the Company or persons acting on its behalf are expressly qualified in their entirety    by these factors. Other than as required under the securities laws, the Company does    not assume a duty to update these forward-looking statements.

   

CONTACT:
    Jason Finkelstein
    YOU On Demand
    212-206-1216 
    jason.finkelstein@yod.com  
    @youondemand 
    corporate.yod.com

   

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/you-on-demand-closes-strategic-investment-from-seven-stars-works-for-4-million-usd-300301335.html

   

SOURCE YOU On Demand Holdings, Inc.

 

 
    Source: PR Newswire (July 20, 2016 - 9:14 AM EDT)
   
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