Market Overview

Function(x), Inc. Prices $4,800,000 Common Stock Offering

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FUNCTION(X) INC. (NASDAQ:FNCX), a leading social publishing and
interactive media platform, today announced the pricing of an
underwritten public offering of 4,571,428 shares of its common stock at
a price to the public of $1.05 per share. The gross proceeds to
Function(x) Inc. from this offering are expected to be approximately
$4,800,000 before deducting underwriting discounts and commissions and
other estimated offering expenses. Function(x) Inc. has granted the
underwriters a 45-day option to purchase up to an additional 685,714
shares of common stock to cover over-allotments, if any. The offering is
expected to close on March 1, 2017, subject to customary closing
conditions.

Aegis Capital Corp. and Laidlaw & Company (UK) Ltd are acting as joint
book-running managers for the offering.

A registration statement relating to these securities has been filed
with the Securities and Exchange Commission and became effective on
February 23, 2017.

The offering will be made only by means of a prospectus. A copy of the
prospectus relating to the offering may be obtained, when available, by
contacting Aegis Capital Corp., Prospectus Department, 810 Seventh
Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com.
Investors may also obtain these documents at no cost by visiting the
SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

Function(x) operates Wetpaint.com and Rant. Wetpaint is the leading
online destination for entertainment news for millennial women, covering
the latest in television, music, and pop culture. Rant is a leading
digital publisher with original content in multiple different verticals,
most notably in sports, entertainment, and pets. Function(x) Inc. is
also the largest shareholder of DraftDay Gaming Group, which is
well-positioned to become a significant participant in the expanding
fantasy sports market, offering a high-quality daily fantasy sports
experience both directly to consumers and to businesses desiring turnkey
solutions to new revenue streams. Function(x) Inc. also owns Choose
Digital, a digital marketplace platform that allows companies to
incorporate digital content into existing rewards and loyalty programs
in support of marketing and sales initiatives. For more information,
visit www.functionxinc.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and as
defined in the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially from
those projected or anticipated. All information provided in this press
release is as of the date of this release. Except as required by law,
Function(x), Inc. undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements are
made or to reflect the occurrence of unanticipated events.

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