ParkerVision Enters into Securities Purchase Agreements with Accredited Investors

ParkerVision, Inc. (OTCMKTS:PRKR) recently revealed in an 8-K filing on December 24, 2024, that the company had entered into securities purchase agreements with accredited investors. These agreements entail the sale of a substantial number of unregistered shares of ParkerVision common stock, valued at $0.01 par value, and a significant amount of warrants, all at a price of $0.50 per share.

In detail, the initial agreement saw the sale of 5,958,402 unregistered shares of ParkerVision common stock alongside 1,000,000 warrants, while a subsequent agreement on December 30, 2024, involved the sale of 4,041,598 shares and an additional 1,000,000 warrants, all at the same price per share. The total proceeds from the sale of shares amounted to $5,000,000, earmarked to support the company’s operations, including expenses related to litigation.

To address registration obligations, ParkerVision also inked registration rights agreements with the investors involved. Under these agreements, the company will register the shares of common stock and warrants. ParkerVision committed to filing the registration statement by April 15, 2025, and ensuring its effectiveness by May 20, 2025, with an extended deadline of July 14, 2025, in case of a full review by the Securities and Exchange Commission. Liquidated damages provisions are in place in case of non-compliance, set at 1.0% of the aggregate subscription amount paid by investors, escalating monthly to a maximum of 6% or $300,000.

The shares and warrants were exclusively offered to accredited investors through a private placement mechanism under the Securities Act of 1933 and Rule 506. The summary of the agreements is provided in the filing, with full details available in Exhibits 10.1, 10.2, and 10.3 attached to the filing.

The disclosures made under Item 1.01 regarding the securities purchase agreements and unregistered sales of equity securities are incorporated by reference under Item 3.02 of the filing, aligning with the requirements of the Securities Exchange Act of 1934.

As per the filing, the signatory on behalf of ParkerVision, Inc., Cynthia French, duly authorized the report on December 31, 2024.

The latest developments signify a strategic move by ParkerVision to raise capital and reinforce its financial position through agreements with accredited investors.

The filings can be accessed for detailed information on the agreements and parties involved in the transactions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ParkerVision’s 8K filing here.

ParkerVision Company Profile

ParkerVision, Inc designs and develops radio frequency technologies and integrated circuits for use in wireless communication products. ParkerVision, Inc was incorporated in 1989 and is based in Jacksonville, Florida.