TEN Holdings (XHLD) said Monday that via its subsidiary Ten Events it has signed agreements with investors to sell 991,000 shares of Ten's common stock at $2.27 per share, for gross proceeds of about $2.25 million.

Proceeds from the private placement will be used to repay debt and for working capital and general corporate purposes, the company said.

TEN shares were up past 14% in recent after-hours activity.