FOMO Worldwide cancels Series A Preferred raise, receives $5M equity term sheet

FOMO Worldwide canceled its Series A Preferred raise due to market conditions and terminated its placement agent. The company received a term sheet from its largest hedge fund investor for up to $5 million of equity over two years, subject to corporate actions being approved.

“Today, we are canceling our Series A Preferred raise due to market conditions. We terminated our placement agent for that PIPE deal and have received a term sheet from our largest hedge fund investor historically, for up to $5 million of equity over two years subject to the aforementioned corporate actions being approved.”

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