BTIG raises funds for sales and marketing and working capital purposes
By Toni Weeks
San Luis Obispo, Calif., Jan. 7 – AudioEye, Inc. said it completed a $2.68 million private placement of units. BTIG, LLC was the agent.
The company sold 6,687,500 units of one common share and a 0.375-share warrant at $0.40 per unit.
Each whole warrant is exercisable at $0.60, a 46.34% premium to the Jan 6. closing share price of $0.41.
Proceeds will be used to expand sales and marketing efforts and for other working capital purposes.
The Tucson company develops media creation and content management software that enables website owners to render their websites in complete audio format.
Issuer: | AudioEye, Inc.
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Issue: | Units of one common share a warrant for 0.375 shares
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Amount: | $2,675,000
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Units: | 6,687,500
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Price: | $0.40
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Warrants: | One warrant for 0.375 shares per unit
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Warrant strike price: | $0.60
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Agent: | BTIG, LLC
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Settlement date: | Jan. 7
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Stock symbol: | OTCBB: AEYE
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Stock price: | $0.41 at close Jan. 6
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Market capitalization: | $28.2 million
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