- On July 6, 2021, software solutions provider BSQUARE Corp BSQR entered into a Side Letter with B. Riley Securities, Inc to sell shares having an aggregate offering price of up to $50 million under the company’s Form S-3 filed on March 18.
- The Side Letter was in connection with At Market Issuance Sales Agreement dated April 2.
- On April 2, the company inked the agreement with B. Riley Securities, Inc to sell shares of the having an aggregate offering price of up to $25 million through an “at the market offering” program.
- It sees revenue guidance between $10.6 million - $10.8 million for the three months ended June 30, including $9.9 million - $10.0 million in Partner Solutions revenue and $0.7 million - $0.8 million in Edge to Cloud revenue. It expects an operating loss for the quarter.
- It sold an estimated 5 million shares for $23.9 million under the previous offering between June 30 and July 6.
- The Small Business Administration (SBA) authorized complete forgiveness of its $1.6 million Paycheck Protection Program (PPP) Loan.
- The stock has gained 364% year-to-date.
- Price action: BSQR shares traded lower by 25.5% at $5.25 on the last check Wednesday.
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