Majesco Entertainment Company released details this past Thursday, that it has entered into definitive agreements to raise approximately $9.63 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses, in a registered direct offering with select institutional investors.  

The offering includes the sale and issuance of 6.420 million shares of the Company’s common stock, at a purchase price of $1.50 per share. The shares were offered and sold pursuant to a prospectus supplement dated September 17, 2009 and an accompanying prospectus dated August 28, 2009, pursuant to the Company’s effective shelf registration statement previously filed with the Securities and Exchange Commission.

Roth Capital Partners served as the sole placement agent for the offering. Bond Lane Partners served as financial advisor. The sale is expected to close on or about September 22, 2009.