Vislink Technologies Inc. (VISL) Prices $6M Offering of Common Stock, Warrants

(Updated - February 12, 2020 8:32 AM EST)

Vislink Technologies, Inc. (“Vislink” or the “Company”)(Nasdaq: VISL), today announced the pricing of an underwritten public offering with expected total gross proceeds of approximately $6,000,000, before deducting underwriting discounts, commissions and other offering expenses payable by the Company.

The securities offered by the Company consist of (i) 12,445,000 shares of common stock together with 12,445,000 Warrants (the “Warrants”) to purchase 9,333,750 shares of common stock and (ii) 14,827,200 pre-funded warrants, with each pre-funded warrant exercisable for one share of common stock, together with 14,827,200 Warrants to purchase 11,120,400 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 $0.22 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 $0.2420 per share, will be immediately exercisable and will expire one (1) 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 4,090,830 shares of common stock and/or 4,090,830 Warrants to purchase up to 3,068,122 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. 333-236230) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on February 11, 2020.

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