Vislink Technologies Inc (VISL): Vislink Technologies Closes $12 Million...

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Re: dandream post# 588

Monday, 07/22/2019 5:55:21 PM

Monday, July 22, 2019 5:55:21 PM

Vislink Technologies Closes $12 Million Offering, Pays off Convertible Debt in Full and Ahead of Schedule

VISLINK TECHNOLOGIES INC (NASDAQ:VISL)
Intraday Stock Chart
Today : Wednesday 17 July 2019

Vislink Technologies, Inc. (“Vislink” or the “Company”) (NASDAQ: VISL) announced today that it has closed the previously announced public underwritten offering of securities, with gross proceeds of approximately $12 million before deducting underwriting discounts, commissions and other offering expenses payable by the Company.
A primary use of the proceeds was to pay off convertible debt incurred during 2018 while the Company went through a reorganization. Roger Branton, CEO of Vislink Technologies, said, “Our corporate reorganization started mid last year and we took on some debt to help complete that process. With our operational turnaround completed, our key financial goals for this year include improving our capital structure and our working capital position.