BTIG raises funds for sales and marketing and working capital purposes
By Devika Patel
Knoxville, Tenn., Dec. 24- AudioEye, Inc. said it completed a $3.25 million private placement of units on Feb. 28. BTIG, LLC was the agent.
The company sold 10,835,002 units of one common share and one warrant at $0.30 per unit.
Each whole warrant is exercisable at $0.40, a 14.29% premium to the Dec. 23 closing share price of $0.35.
Proceeds will be used to expand sales and marketing efforts and for other working capital purposes.
The Tucson, Ariz., company develops media creation and content management software that enables website owners to render their web sites in complete audio format.
| Issuer: | AudioEye, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $3,250,501
|
| Units: | 10,835,002
|
| Price: | $0.30
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | $0.40
|
| Agent: | BTIG, LLC
|
| Settlement date: | Dec. 24
|
| Stock symbol: | OTCBB: AEYE
|
| Stock price: | $0.35 at close Dec. 23
|
| Market capitalization: | $15.14 million
|
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