Focus Universal Inc. (NASDAQ: FCUV) closed a private placement raising approximately $4 million through the sale of common stock units and warrants, the company announced. The transaction closed April 7.

The offering consisted of 1,117,318 units priced at $3.58 each, with each unit including one share of common stock or one pre-funded warrant, plus two series of warrants to purchase additional shares at $3.33 per share. The Series A warrants expire in 24 months while Series B warrants expire in 60 months.

The West Covina, California-based company develops hardware and software technologies for Internet of Things applications, 5G networks, and AI-driven financial reporting automation. Focus Universal plans to use the proceeds for general corporate purposes and working capital.

Aegis Capital Corp. served as the exclusive placement agent for the transaction. The securities were sold to accredited investors in a private placement exempt from Securities and Exchange Commission registration requirements.

Under a registration rights agreement, Focus Universal committed to file registration statements with the SEC to allow investors to resell the shares and warrant-related securities in public markets.

The company holds 26 patents and patent applications across five technology platforms, along with eight pending trademarks, according to the announcement.