STOCKHOLM, Dec. 20, 2018
/PRNewswire/ --
Neonode Inc. (NASDAQ: NEON), the optical interactive sensing
technology company, today announced it has entered into definitive
agreements for the private placement of $4.7
million of Neonode common stock.
Pursuant to the terms of the non-brokered private placement,
Neonode has agreed to sell 2.9 million shares of newly issued
common stock at a price of $1.60 per
share. The sale price per share represents a 4% premium to the most
recent closing price of NEON.
The purchasers in the private placement include Neonode
directors, Ulf Rosberg and
Andreas Bunge, and members of
management, including Chief Executive Officer Hakan Persson and Chief Financial Officer
Lars Lindqvist. These Neonode
directors and members of management individually have agreed to
purchase an aggregate of approximately $2
million of common stock as part of the private placement. In
addition, existing major shareholder Peter
Lindell also has agreed to purchase shares. Mr. Lindell
and Mr. Rosberg each are anticipated to be a beneficial owner of
approximately 19% of Neonode common stock as a result of the
private placement.
The proceeds from the private placement are anticipated to be
used for general corporate purposes including business
development.
The closing of the private placement is subject to the
satisfaction of customary closing conditions.
The securities sold in the private placement have not been
registered under the Securities Act of 1933, as amended, or state
securities laws and may not be offered or sold in the United States absent registration with the
U.S. Securities and Exchange Commission (SEC) or an applicable
exemption from such registration requirements.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful.
For more information, please contact::
Investor
Relations
David Brunton
Email: david.brunton@neonode.com
CFO
Lars Lindqvist
E-mail: lars.lindqvist@neonode.com
This information was brought to you by Cision
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The following files are available for download:
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Neonode to Raise $4.7
Million in Private Placement
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