Vislink Technologies Inc. (VISL) Prices $4M Offering of Common Stock, Warrants

Vislink Technologies, Inc. (Nasdaq: VISL), today announced the pricing of an underwritten public offering with expected total gross proceeds of approximately $4,000,000, before deducting underwriting discounts, commissions and other offering expenses payable by the Company.

The securities offered by the Company consist of (i) 3,201,200 shares of common stock together with 3,201,200 Warrants (the “Warrants”) to purchase 2,400,900 shares of common stock and (ii) 11,893,100 pre-funded warrants, with each pre-funded warrant exercisable for one share of common stock, together with 11,893,100 common warrants to purchase 8,919,825 shares of common stock. The shares of common stock (or pre-funded warrants, as applicable) and accompanying Warrants are being sold together at a combined public offering price of $0.265 per share. The pre-funded warrants are immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full. The Warrants will have an exercise price of $0.2915 per share, will be immediately exercisable and will expire one year from the date of issuance. The Warrants also provide that 30 days after issuance each Warrant may be exercised, at the option of the holder, on a cashless basis for 0.75 shares of common stock. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,264,145 shares of common stock and/or 2,264,145 common warrants to purchase up to 1,698,108 shares of common stock cover over-allotments, if any.
The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.

This offering is being made pursuant to an effective registration statement on Form S-1 (No. 333-234265) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on November 25, 2019.

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