ParkerVision Signs Purchase Agreement for Common Stock; 8.14M Shares at $1.05/Share
ParkerVision, Inc. (Nasdaq: PRKR) ("ParkerVision") today announced the signing of a securities purchase agreement for the sale of 8,139,050 shares of its common stock at a price of $1.05 per share, in a registered offering to certain institutional and other investors.
Upon closing, net proceeds from the sale of the shares, after deducting the placement agent's fees and the other offering expenses, are expected to be approximately $8.4 million. The offering is subject to customary closing conditions and is expected to close on or about April 18, 2012. The Company plans to use the net proceeds from the offering for working capital and for other general corporate purposes, including funding its research, its sales and marketing activities and its infringement litigation.
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