Neonode (NEON) Announces 1.81M Share Direct Offering at $7.75/sh

Neonode Inc. (NASDAQ: NEON), today announced it has agreed to place with certain Swedish and European investors 1,808,000 shares of its common stock at a purchase price of $7.75 per share in a registered direct offering. The closing of the offering is expected to occur on or about October 25, 2021, subject to the satisfaction of customary closing conditions.

The Company plans to use the net proceeds from the offering for continued investments in sales and marketing to create greater awareness and drive demand for contactless touch and Neonode's Touch Sensor Modules, for supporting the expected growth of the Company's Touch Sensor Module production volumes, and for general corporate and working capital purposes.

Pareto Securities is acting as sole placement agent for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-255964) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from Pareto Securities at [email protected]. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

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