Offering funds general corporate purposes, including working capital
By Devika Patel
Knoxville, Tenn., Sept. 13 - Wireless Ronin Technologies, Inc. said it will conduct a $1.41 million registered direct offering of shares with Roth Capital Partners, LLC as agent.
The company will sell 1,738,452 common shares at $0.81 per share. The price per share represents a 2.41% discount to the Sept. 12 closing share price of $0.83 and was also the consolidated closing bid price on that date, the company said in a press release.
Settlement is expected on Sept. 18.
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: | Common shares
|
| Amount: | $1,408,146
|
| Shares: | 1,738,452
|
| Price: | $0.81
|
| Warrants: | No
|
| Agents: | Roth Capital Partners, LLC
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 18
|
| Stock symbol: | Nasdaq: RNIN
|
| Stock price: | $0.83 at close Sept. 12
|
| Market capitalization: | $18.58 million
|
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