Neonode Announces Pricing of Public Offering of Common Stock
October 07 2015 - 7:35AM
Neonode Inc. (NASDAQ:NEON) (“Neonode” or the “Company”) today
announced the pricing of an underwritten public offering of
3,200,000 shares of common stock of the Company at a price to the
public of $1.90 per share. The offering is expected to close on or
about October 13, 2015, subject to the satisfaction of customary
closing conditions.
Per Bystedt (Chairman), Thomas Eriksson (Chief
Executive Officer), and Mats Dahlin, members of Neonode’s Board of
Directors, intend to purchase an aggregate of $300,000 of shares of
common stock from the underwriter in the offering at the public
offering price per share.
Gross proceeds to the Company from the offering
are expected to be approximately $6.1 million. Neonode anticipates
using its net proceeds from the offering primarily for general
corporate purposes, including capital expenditures and working
capital.
Craig-Hallum Capital Group LLC acted as the sole
book-running manager for the offering.
The securities described above are being offered
pursuant to an effective shelf registration statement previously
filed by Neonode with the Securities and Exchange Commission (the
“SEC”). The securities may be offered only by means of a
prospectus. Copies of the final prospectus supplement and the
accompanying prospectus relating to this offering, when available,
will be available on the SEC’s website located at
http://www.sec.gov and may also be obtained from Craig-Hallum
Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis,
MN 55402, telephone 612-334-6300, email: prospectus@chlm.com.
Note: 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.
Note: This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These include, but are
not limited to, statements relating to the Company’s common stock
offering. These statements are based on current assumptions,
expectations and information available to Neonode management and
involve a number of known and unknown risks, uncertainties and
other factors that may cause Neonode’s actual results, levels of
activity, performance or achievements to be materially different
from any expressed or implied by these forward-looking statements.
These risks, uncertainties, and factors are discussed under “Risk
Factors” and elsewhere in Neonode’s public filings with the U.S.
Securities and Exchange Commission from time to time, including
Neonode’s Annual report on Form 10-K, quarterly reports on Form
10-Q, and current reports on Form 8-K. You are advised to carefully
consider these various risks, uncertainties and other factors.
Although Neonode management believes that the forward-looking
statements contained in this press release are reasonable, it can
give no assurance that its expectations will be fulfilled.
Forward-looking statements are made as of today’s date, and Neonode
undertakes no duty to update or revise them.
About Neonode
Neonode Inc. (NASDAQ:NEON) develops and licenses the next
generation of MultiSensing® touch technologies, allowing companies
to differentiate themselves by making high performing touch and
proximity sensing solutions at a competitive cost. Neonode is at
the forefront of providing unparalleled user experiences that offer
significant advantages for OEM’s. This includes state-of-the-art
technology features such as low latency pen or brush sensing with
high speed scanning, proximity-, pressure-, and depth sensing
capabilities and object-size measuring on any surface.
Neonode’s patented MultiSensing touch technology is developed
for a wide range of devices like wearable’s, notebooks, all-in-one
computers, monitors, mobile phones, tablets and e-readers,
toys and gaming consoles, printers and office equipment and
automotive systems. NEONODE, the NEONODE Logo, ZFORCE and
MULTISENSING are trademarks of Neonode Inc. registered in the
United States and other countries. ZFORCE CORE, ZFORCE PLUS and
ZFORCE DRIVE are trademarks of Neonode Inc. All other trademarks
are the property of their respective owners. For more information
please visit www.neonode.com.
© 2015, Neonode Inc. All rights reserved. Neonode is a
registered trademark of Neonode Inc.
For more information, please contact:
Investor Relations:
David Brunton
Email: david.brunton@neonode.com
CFO
Lars Lindqvist
E-mail: lars.lindqvist@neonode.com
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