Dallas, Texas (July 18 , 2011) – StockGuru shines its Spotlight on Respect Your Universe (“RYU”) (OTCBB: RYUN). The Company announced on Friday, July 15, 2011, that due to investor demand its previously disclosed equity financing in June 2011 was oversubscribed and the final total proceeds in the offering were $3,249,090. With this increased capital investment, RYU has even more resources with which to successfully develop and distribute its MMA inspired apparel and merchandise. The Company closed at $2.09 on July 15, 2011, trading on volume of roughly 109,000 shares.
RYU commenced the offering on Friday, June 17, with intentions to raise only $2,500,000, but within days the interest and demand in the offering was so substantial the Company was able to raise an addition $749,090 and close the offering. For the investment, RYU issued 5,415,151 shares of restricted common stock and two year warrants to purchase another 5,415,151 shares of restricted common stock at an exercise price of $1.80 per share. If all of the investor warrants are exercised, RYU will receive an additional $9,747,272 in financing.
Chief Financial Officer Steve Eklund said of the financing: “We are very pleased that our June 2011 offering was significantly oversubscribed. This demonstrates the confidence that our shareholders have in our brand strategy, our business plan and the talented and experienced team we have assembled at RYU. With this funding in place, we will soon be bringing to market the most innovative and authentic performance apparel for MMA athletes to help them perform at their best. Thanks to all of our investors for their support.”
About Respect Your Universe, Inc. (OTCBB: RYUN): RYU is a premium performance apparel and equipment company rooted in and inspired by Mixed Martial Arts. Focused on the needs of the athlete, RYU brings innovative design, development and production of premium performance gear with style to mixed martial artists and athlete enthusiasts worldwide. The RYU brand is based on respect, honor and sustainability.
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