ClearOne, Inc. (NASDAQ: CLRO), a global provider of audio and visual communications solutions, today announced that it has entered into definitive agreements with investors to purchase 3,623,189 shares of common stock (or common stock equivalents) in a private placement priced at-the-market under Nasdaq rules. The Company will also issue to the investorswarrants to purchase up to an aggregate of3,623,189shares of common stock. The purchase price for one share of common stock and onewarrant to purchase one share of common stock is $2.76.The warrants have an exercise price of $2.64per share, will be immediately exercisable, and willexpirefive and one-halfyears from issuance.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds from the private placement are expected to be approximately$10.0 millionbefore deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes and working capital.The private placement is expected to close on or aboutSeptember 15, 2021, subject to the satisfaction of customary closing conditions.