Proceeds from underwritten deal slated for general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 8 - Neonode Inc. said it priced a $12 million public offering of stock.
The company sold 3 million common shares at $4.00 per share. The price per share is an 8.88% discount to the Dec. 7 closing share price of $4.39.
Cowen and Co., LLC is the underwriter and bookrunner.
Settlement is expected Dec. 13.
Proceeds will be used for general corporate purposes, including capital expenditures and working capital.
Neonode is a user-experience technology company with offices in San Ramon, Calif., and Stockholm.
| Issuer: | Neonode Inc.
|
| Issue: | Common stock
|
| Amount: | $12 million
|
| Shares: | 3 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunner: | Cowen and Co., LLC
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 13
|
| Stock symbol: | OTCBB: NEON
|
| Stock price: | $4.39 at close Dec. 7
|
| Market capitalization: | $120.12 million
|
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