Wireless Ronin Signs a $1m Deal for Automotive Solution While Planning to Raise $1.5m More

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Via News Release,

Wireless Ronin Technologies, Inc. (Nasdaq:RNIN) announced today that it has received a purchase order for RoninCast(R) for automotive with a total value of $1.0 million. Of the $1.0 million, approximately $0.7 million relates to hardware and approximately $0.3 million is for the purchase of RoninCast software and services. Wireless Ronin expects to complete the foregoing installations within the next 30 to 60 days.”

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Via News Release

“Wireless Ronin Technologies, Inc. announced that it has entered into agreements to sell approximately $1.8 million of units in a registered direct offering. Pursuant to these agreements, the company will sell 1,425,000 units at a price of $1.25 per unit, each consisting of one share of common stock and one three-year warrant to purchase 0.20 shares of common stock at an exercise price of $1.4375 per share. Wireless Ronin expects net proceeds of approximately $1,570,000, which it plans to use primarily for general corporate purposes, including working capital.”

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