VISLINK TECHNOLOGIES, INC. ANNOUNCES $50 MILLION REGISTERED DIRECT OFFERING PRICED AT-THE-MARKET UNDER NASDAQ RULES
February 04 2021 - 8:30AM
Vislink Technologies, Inc. (NASDAQ: VISL) ("Vislink", "VISL" or
"the Company"), the global technology leader in collection,
delivery and management of high quality, live video and associated
data, today announced that it has entered into a definitive
agreement with institutional investors for the purchase and sale of
18,181,820 shares of its common stock and common stock warrants to
purchase up to 9,090,910 shares of common stock at a combined
purchase price of $2.75 per share in a registered direct offering.
The common stock warrants will be immediately exercisable, have an
exercise price of $3.25 per share and will expire five years from
the date of issuance. The closing of the offering is expected to
occur on or about February 8, 2021, subject to the satisfaction of
customary closing conditions.
A.G.P./Alliance Global Partners is acting as
sole placement agent for the offering.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-238013) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”) and declared effective on May 13, 2020. A
prospectus supplement describing the terms of the proposed offering
will be filed with the SEC and will be available on the SEC’s
website located at http://www.sec.gov. Electronic copies of the
prospectus supplement may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com.
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
Vislink is a global technology business
specializing in the collection, delivery, and management of high
quality, live video and associated data from the scene of the
action to the viewing screen. For the broadcast markets, Vislink
provides solutions for the collection of live news, sports, and
entertainment events. Vislink also furnishes the surveillance and
defense markets with real-time video intelligence solutions using a
variety of tailored transmission products. The Vislink team also
provides professional and technical services utilizing a staff of
technology experts with decades of applied knowledge and real-world
experience to the areas of terrestrial microwave, satellite, fiber
optic, surveillance, and wireless communications systems, to
deliver a broad spectrum of customer solutions. Vislink’s shares of
Common Stock are publicly traded on the Nasdaq Capital Market under
the ticker symbol “VISL.” For more information,
visit www.vislink.com.
Safe Harbor Statement
This press release may contain projections or
other forward-looking statements within the meaning of the Private
Securities Litigation Reform Act. These statements involve risks
and uncertainties, and actual events or results may differ
materially. Among the important factors that could cause actual
results to differ materially from those in the forward-looking
statements are the risk that our reduction in operating expenses
may impact our ability to meet our business objectives and achieve
our revenue targets and may not result in the expected improvement
in our profitability, the fact that our future growth depends in
part on further penetrating our addressable market and also growing
internationally, and we may not be successful in doing so; our
dependence on sales of certain products to generate a significant
portion of our revenue; the effect of a decrease in the sales or
change in sales mix of these products would harm our business; the
risks that an economic downturn or economic uncertainty in our key
U.S. and international markets may adversely affect demand for our
products; difficulty in accurately predicting our future customer
demand; the importance of maintaining the value and reputation of
our brand; and other factors detailed in our Annual Report on Form
10-K for the year ended December 31, 2019 and our other subsequent
filings with the Securities and Exchange Commission. These
forward-looking statements speak only as of the date hereof or as
of the date otherwise stated herein. The Company disclaims any
obligation to update these forward-looking statements.
Investor Relations: Phil Carlson KCSA Strategic
Communications Vislink@kcsa.com
Media Contacts: Anthony Feldman / Jenny Robles
KCSA Strategic Communications Vislink@kcsa.com
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