OSA-Direct
Sunday, 20 Jan 2019

eMagin to raise US$6.0 million in equity offering

The funds are expected to provide the capital to upgrade manufacturing equipment, balance production line and improve yield

18 Dec 2015 | Editor

eMagin Corp. has announced that it entered into a definitive securities purchase agreement with certain investors providing for the issuance, in a registered direct offering, of approximately US$6,000,000 of common stock at a price per share of US$1.50 and five and one half year warrants to purchase up to 2,600,000 shares of common stock at an exercise price of US$2.05. The warrants will become exercisable six months from the date of the closing of the offering.

Craig-Hallum Capital Group LLC acted as the exclusive placement agent for this transaction.

The closing of the sale of the securities is expected to take place on or about December 23, 2015, subject to satisfaction of customary closing conditions.

Andrew G. Sculley, President and CEO, said, "We are pleased to have consummated this financing. It provides the capital to upgrade our manufacturing equipment, balance our production line and improve our yield. This capacity expansion will position us for growth as we provide our customers the range of products they demand and move ahead in our development of products for the commercial headset market."

www.emagin.com   


About eMagin

A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs.

Source: eMagin


login
cintelliq logo