I was very encouraged by the announcement and believe the use of proceeds is about as good as it gets:
1) Accelerate the commercialization timeline 2) Expand US production capacity 3) Onboard additional large-scale design wins
Hard to imagine a better allocation of capital at this stage!
That said, I'm trying to understand what changed in the past month or so. On the last investor update call, management emphasized a strong balance sheet and ample runway. Now, the company raised $35M quickly, and they are in between CFOs.
Was there a specific catalyst that drove the need for immediate cash? What was the motivation behind the timing and structure of the raise?
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