Wireless Ronin Technologies, Inc. (NASDAQ: RNIN), a leading marketing technologies provider, today announced that it has entered into agreements to sell approximately $1.56 million of its securities in a registered direct offering. Pursuant to these agreements, the company will issue 868,000 units at a price of $1.80 per unit, with each unit consisting of (i) one share of common stock, and (ii) one five-year warrant to purchase 0.50 of a share of common stock, with exercisability commencing six months and one day after issuance, at an exercise price of $2.73 per share. The company expects net proceeds at closing of approximately $1.3 million, which it plans to use for general corporate purposes, including working capital. The closing of the offering is expected to take place on or about March 8, 2013, subject to customary closing conditions.
Roth Capital Partners, LLC acted as the Company's placement agent for the transaction.
The shares are being offered by the company pursuant to a shelf registration statement filed with the Securities and Exchange Commission (the "SEC"), which was declared effective on January 31, 2013. A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the SEC. Copies of the prospectus supplement and accompanying base prospectus may be obtained from the SEC's website at http://www.sec.gov or from Roth Capital Partners, LLC, Equity Capital Markets, 888 San Clemente Drive, Newport Beach, CA 92660 (telephone: 800-678-9147; e-mail: firstname.lastname@example.org). This press release is neither an offer to sell nor a solicitation of an offer to buy any shares of common stock. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful. The shares of common stock may only be offered by means of a prospectus.
About Wireless Ronin Technologies, Inc.
Wireless Ronin Technologies, Inc. (WRT) (www.wirelessronin.com) is a pioneering marketing technologies company. WRT combines interactive digital media -- signage, kiosks, mobile, social media and web -- to create 360-degree solutions so companies can "communicate at life speed" to deliver the right content at the right place at the right time. WRT's turnkey approach includes strategic consulting, creative development, installation, hosting, training and support. Since launching its cloud-based RoninCast® content management platform in 2003, WRT has become the leading digital marketing provider for large-scale deployments in retail, automotive, food service and public venues. The company is headquartered in Minneapolis, Minnesota; its common stock trades on NASDAQ as RNIN.
This release contains certain forward-looking statements of expected future developments, as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding the completion, timing and size of the offering and reflect management's expectations based on currently available data. Such statements are subject to future risks and uncertainties, including risks and uncertainties related to market conditions and the company's ability to meet the conditions necessary to consummate the offering on the anticipated terms, or at all. The company's actual performance could also differ significantly from those expressed in any forward-looking statement and are subject to future risks and uncertainties. Risks and uncertainties that could affect such performance include, but are not limited to, the following: the adequacy of funds for future operations; estimates of future expenses, revenue and profitability; the pace at which the company completes installations and recognizes revenue; trends affecting financial condition and results of operations; ability to convert proposals into customer orders; the ability of customers to pay for products and services; the revenue recognition impact of changing customer requirements; customer cancellations; the availability and terms of additional capital; ability to develop new products; dependence on key suppliers, manufacturers and strategic partners; industry trends and the competitive environment; and the impact of losing one or more senior executives or failing to attract additional key personnel. These and other risk factors are discussed in detail in the risk factors section of the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2013.
Scott W. Koller
President and CEO
Wireless Ronin Technologies, Inc.
Darin P. McAreavey
SVP and CFO
Wireless Ronin Technologies, Inc.
© 2018 Canjex Publishing Ltd. All rights reserved.