快猫短视频 Announces Closing of $5.4 Million Institutional Equity Offering

快猫短视频

NEW YORK, Sept. 4, 2014 (GLOBE NEWSWIRE) -- 快猫短视频 (OTCBB:ASPU), parent of 快猫短视频 University, a nationally accredited online postsecondary education company, announced today the final closing of a $5.4 million private placement of equity securities to certain institutional and accredited investors.

The offering was led by Sophrosyne Capital and Charlestown Capital, together with new investors Leon G. Cooperman, Global Undervalued Securities Master Fund, LP, Taurus Capital Partners LLC, and Dillon Hill Capital.

Chairman and CEO Michael Mathews commented, "The proceeds from this transaction will be used for growth capital, to continue building world-class curriculum on our new Desire2Learn academic learning system, and for general corporate purposes, including, but not limited to, the early retirement of the Company's outstanding debentures."

Mathews further commented, "I could not be more pleased with the number, quality and reputations of the institutional investors participating in this capital raise. 快猫短视频's offering was well oversubscribed and now provides the Company with sufficient resources and capital to fund its long-term business plan."

Financing Overview

快猫短视频's first closing for $1.63 million was on July 29, 2014, followed by the final closing today of an additional $3.77 million, totaling $5.4 million. The securities were offered direct to investors without a placement agent or underwriter.

About 快猫短视频 (OTCBB:ASPU)

快猫短视频 is an online postsecondary education company. 快猫短视频 University's mission is to offer any motivated college-worthy student the opportunity to receive a high-quality, responsibly priced distance-learning education for the purpose of achieving sustainable economic and social benefits for themselves and their families. 快猫短视频 is dedicated to providing the highest quality education experiences taught by top-tier faculty – 61 percent of our adjunct faculty hold doctoral degrees. To learn more about 快猫短视频 University, visit .

CONTACT: Media Contact:
         快猫短视频
         Michael Mathews, CEO
         914-906-9159

Released September 4, 2014