You On Demand nets $4M investment in stock sale

• You On Demand (YOD +1.2%) has closed an investment from Harvest Alternative Investment Opportunities that netted the company $4M.
• The on-demand video company entered into a security purchase agreement calling for it to sell 2,272,727 shares to harvest for $1.76/share.
• It'll use the fund for M&A activity, along with "licensed content procurement" and general purposes.
• Shares of YOD are down 9% YTD.