Neonode to Raise $4.7 Million in Private Placement

Pursuant to the terms of the non-brokered private placement, Neonode has agreed to sell 2.9 million shares of newly issued common stock at a price of $1.60 per share. The sale price per share represents a 4% premium to the most recent closing price of NEON. 

The purchasers in the private placement include Neonode directors, Ulf Rosberg and Andreas Bunge, and members of management, including Chief Executive Officer Hakan Persson and Chief Financial Officer Lars Lindqvist. These Neonode directors and members of management individually have agreed to purchase an aggregate of approximately $2 million of common stock as part of the private placement. In addition, existing major shareholder Peter Lindell also has agreed to purchase shares. Mr. Lindell and Mr. Rosberg each are anticipated to be a beneficial owner of approximately 19% of Neonode common stock as a result of the private placement.

The proceeds from the private placement are anticipated to be used for general corporate purposes including business development.

The closing of the private placement is subject to the satisfaction of customary closing conditions.

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the U.S. Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.

For more information, please contact:

Investor Relations
David Brunton
Email: david.brunton@neonode.com

CFO
Lars Lindqvist
E-mail: lars.lindqvist@neonode.com