Via News Release
“MINNEAPOLIS – March 5, 2013 – Wireless Ronin Technologies, Inc. (NASDAQ: RNIN), a leading marketing technologies provider, today announced that it has entered into agreements to sell approximately $1.56 million of its securities in a registered direct offering.
Pursuant to these agreements, the company will issue 868,000 units at a price of $1.80 per unit, with each unit consisting of (i) one share of common stock, and (ii) one five-year warrant to purchase 0.50 of a share of common stock, with exercisability commencing six months and one day after issuance, at an exercise price of $2.73 per share. The company expects net proceeds at closing of approximately $1.3 million, which it plans to use for general corporate purposes, including working capital. “