VISLINK TECHNOLOGIES, INC. PRICES $6,000,000 PUBLIC OFFERING
February 12 2020 - 8:30AM
Vislink Technologies, Inc. (“Vislink” or the “Company”)(Nasdaq:
VISL), today announced the pricing of an underwritten public
offering with expected total gross proceeds of approximately
$6,000,000, before deducting underwriting discounts, commissions
and other offering expenses payable by the Company.
The securities offered by the Company consist of
(i) 12,445,000 shares of common stock together with 12,445,000
Warrants (the “Warrants”) to purchase 9,333,750 shares of common
stock and (ii) 14,827,200 pre-funded warrants, with each pre-funded
warrant exercisable for one share of common stock, together with
14,827,200 Warrants to purchase 11,120,400 shares of common stock.
The shares of common stock (or pre-funded warrants, as applicable)
and accompanying Warrants are being sold together at a combined
public offering price of $0.22 per share. The pre-funded warrants
are immediately exercisable and may be exercised at any time until
all of the pre-funded warrants are exercised in full. The Warrants
will have an exercise price of $0.2420 per share, will be
immediately exercisable and will expire one (1) year from the date
of issuance. The Warrants also provide that 30 days after issuance
each Warrant may be exercised, at the option of the holder, on a
cashless basis for 0.75 shares of common stock. The Company has
granted the underwriters a 45-day option to purchase up to an
additional 4,090,830 shares of common stock and/or 4,090,830
Warrants to purchase up to 3,068,122 shares of common stock cover
over-allotments, if any.
The Company intends to use the net proceeds from
this offering for working capital and general corporate
purposes.
A.G.P./Alliance Global Partners is acting as the
sole book-running manager for the offering.
This offering is being made pursuant to an
effective registration statement on Form S-1 (No. 333-236230)
previously filed with the U.S. Securities and Exchange Commission
(the “SEC”) and declared effective on February 11, 2020. A
preliminary prospectus and accompanying prospectus relating to the
proposed offering was filed with the SEC on February 10, 2020 and
is available on the SEC’s website located at http://www.sec.gov. A
final prospectus relating to the proposed offering will be filed
and made available on the SEC’s website. Electronic copies of the
preliminary prospectus supplement and the final prospectus
supplement may be obtained, when available, from A.G.P./Alliance
Global Partners, 590 Madison Avenue, 36th Floor, New York, NY 10022
or via telephone at 212-624-2060 or email:
prospectus@allianceg.com. Before investing in this offering,
interested parties should read in their entirety the prospectus and
the other documents that Vislink Technologies, Inc. has filed with
the SEC that are incorporated by reference in such prospectus and
the accompanying prospectus, which provide more information about
Vislink and such offering.
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.
About Vislink Technologies,
Inc.
Vislink Technologies is a global leader in the
development and distribution of advanced communication solutions.
Driven by technical excellence that has led the industry for over
50 years, our innovative products and turnkey solutions provide
reliable connectivity in the toughest environments across the
global live production, military and government sectors. Our
solutions include high-definition communication links that reliably
capture, transmit and manage live event footage, as well as secure
video systems that support mission-critical applications.
Cautionary Statement Regarding Forward Looking
Statements
This press release contains forward-looking
statements, including, but not limited to, statements related to
Vislink’s current expectations, plans and prospects. These
forward-looking statements include, without limitation, references
to Vislink’s expectations regarding the closing of the public
offering. These statements are subject to a number of risks and
uncertainties, many of which are difficult to predict, including
market conditions, the satisfaction of customary closing conditions
related to the proposed offering, and the other factors described
in Vislink’s filings with the SEC.
Other risks and uncertainties of which Vislink
is not currently aware may also affect Vislink’s forward-looking
statements. The forward-looking statements herein are made only as
of the date hereof. Vislink undertakes no obligation to update or
supplement any forward-looking statements to reflect actual
results, new information, future events, changes in its
expectations or other circumstances that exist after the date as of
which the forward-looking statements were made.
Contact:
Daniel CarpiniVislink
Technologiesdaniel.carpini@vislink.com(941) 953-9035
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