Ronin Looking For $1.56M In Direct Public Offering

wireless_roninWith money on hand running out, Wireless Ronin has announced an agreement to sell approximately $1.56 million of its securities in a registered direct offering.

The Minneapolis-based digital signage software and services firm 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.”

Last week the CEO said on an investor call: “Despite the robust pipeline and without a significant increase in short-term revenues we require additional capital resources to fund our operations beyond May of 2013.

Dave Haynes

Dave Haynes

Editor/Founder at Sixteen:Nine
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for more than a decade. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He's based near Toronto.
Dave Haynes

@sixteennine

Decade-old blog about digital signage and related tech, written by industry consultant and shit-disturber Dave Haynes.
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