Neonode (NEON) has shared an announcement.
Neonode Inc. has initiated a new “at the market” equity offering program, collaborating with Ladenburg Thalmann & Co. Inc. to potentially sell shares of its common stock up to the value of approximately $10.3 million. This move follows the termination of a previous agreement with B. Riley Securities, under which Neonode had already sold shares worth about $15 million. The new sales agreement allows Neonode to sell shares at prevailing market prices through Ladenburg, which will receive a 3% commission and is subject to certain customary terms and conditions. The sales will be conducted based on Neonode’s instructions and within the limits set by the previously filed and effective Registration Statement and the accompanying prospectus.
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