By Laura Lutz
Des Moines, Sept. 26 - Neonode Inc. raised $6.2 million from a private placement of convertible promissory notes, stock and warrants.
The placement includes $3.1 million of three-year promissory notes, 1,028,316 common shares and warrants for 1,391,577 shares.
The notes will be convertible into common stock at $3.50 per share.
Each warrant will be exercisable at $3.92.
Proceeds will be used for the company's business plan.
Neonode is a user-experience technology company with offices in San Ramon, Calif., and Stockholm.
Issuer: | Neonode Inc.
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Issue: | Convertible promissory notes and stock
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Amount: | $6.2 million
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Announcement date: | Sept. 26
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Stock symbol: | Nasdaq: NEON
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Stock price: | $4.12 at close Sept. 26
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Notes
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Amount: | $3.1 million
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Maturity: | Three years
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Conversion price: | $3.50
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Warrants: | For 1,391,577 shares
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Warrant strike price: | $3.92
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Stock
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Shares: | 1,028,316
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Warrants: | See above
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