On Wednesday Vislink Technologies (NASDAQ:VISL) stock rose 7.26% and closed at 0.26. The stock opened the session at $0.24 and touched its highest price point at $0.27. Its recent trading capacity is 397505 shares versus to its average trading volume of 779234 shares. The company’s stock’s lowest price point for the session stood at $0.24. VISL traded as low as $ 0.21 in the past 52 weeks, and shares hit its peak level to $8.
On Nov. 27, 2019, Vislink Technologies (NASDAQ:VISL) released that it has closed the previously announced public underwritten offering of securities, with gross proceeds of approximately $4 million before deducting underwriting discounts, commissions and other offering expenses payable by the Company.
The securities offered by the Company consist of (i) 3,201,200 shares of common stock together with 3,201,200 Warrants (the Warrants) to purchase 2,400,900 shares of common stock and (ii) 11,893,100 pre-funded warrants, with each pre-funded warrant exercisable for one share of common stock, together with 11,893,100 common warrants to purchase 8,919,825 shares of common stock. The shares of common stock (or pre-funded warrants, as applicable) and accompanying Warrants are being sold together at a combined public offering price of $0.265 per share. The pre-funded warrants are immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full. The Warrants will have an exercise price of $0.2915 per share, will be immediately exercisable and will expire one year from the date of issuance. The Warrants also provide that 30 days after issuance each Warrant may be exercised, at the option of the holder, on a cashless basis for 0.75 shares of common stock. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,264,145 shares of common stock and/or 2,264,145 common warrants to purchase up to 1,698,108 shares of common stock cover over-allotments, if any.