Northland Capital is agent for deal, which funds corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 16 - Wireless Ronin Technologies, Inc. said it arranged a registered direct offering of units.
The company will sell 1,425,000 units of one common share and a warrant for 0.20 of a share at $1.25 per unit for $1.78 million.
The whole warrants are exercisable at $1.4375 for three years. The strike price represents a 20% premium to the Nov. 15 closing share price of $1.43.
Northland Capital Markets is the agent.
Settlement is expected Nov. 19.
Proceeds will be used for general corporate purposes, including working capital.
Minnetonka, Minn.-based Wireless Ronin provides digital signage products to retail and service markets.
| Issuer: | Wireless Ronin Technologies, Inc.
|
| Issue: | Units of one common share and a warrant for 0.20 of a share
|
| Amount: | $1,781,250
|
| Units: | 1,425,000
|
| Price: | $1.25
|
| Warrants: | One warrant for 0.20 of a share per unit
|
| Warrant strike price: | $1.4375
|
| Agent: | Northland Capital Markets
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 19
|
| Stock symbol: | Nasdaq: RNIN
|
| Stock price: | $1.43 at close Nov. 15
|
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