Craig-Hallum helps sell 1.17 million shares at $6.60 per share
By Marisa Wong
Madison, Wis., Sept. 11 - Neonode Inc. announced it priced a $7.72 million public offering of common stock.
Neonode is selling 1,168,939 common shares at $6.60 per share. The price per share is a 5.58% discount to the Sept. 10 closing share price of $6.99.
Proceeds will be used primarily for general corporate purposes, including capital expenditures and working capital.
Craig-Hallum Capital Group is the bookrunner.
According to a news release, an additional 1,321,673 shares are being offered by selling stockholders affiliated with Neonode, also at a price to the public of $6.60 per share. The selling stockholders have granted the underwriter a 30-day greenshoe for up to 373,592 additional shares.
The selling stockholders are Neonode's executive chairman Per Bystedt, chief executive officer and director Thomas Eriksson, director Mats Dahlin, director John Reardon and chief financial officer David Brunton.
The entire offering is expected to close on or about Sept. 16.
Based in Santa Clara, Calif., Neonode develops touch technologies for mobile devices and other appliances.
| Issuer: | Neonode Inc.
|
| Issue: | Common stock
|
| Amount: | $7,715,000
|
| Shares: | 1,168,939
|
| Price: | $6.60
|
| Warrants: | No
|
| Bookrunner: | Craig-Hallum Capital Group
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 16
|
| Stock symbol: | Nasdaq: NEON
|
| Stock price: | $6.99 at close Sept. 10
|
| Market capitalization: | $263.02 million
|
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