Data I/O closes $9 million private placement of stock, warrants and convertible debentures

Data I/O Corporation

Data I/O Corporation

DAIO

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  • Data I/O closed a USD 9 million private placement with two institutional investors, issuing unregistered common stock, warrants, and a convertible debenture.
  • Issued 869,840 common shares, a USD 6.8 million unsecured convertible debenture, and warrants for up to 1,080,000 shares at USD 3 per share.
  • Debenture carries 4% interest, matures in five years, converts into non-voting Series B preferred convertible at an initial USD 2.5 per share.
  • Debenture will automatically convert upon required stockholder approval under Nasdaq rules; certain warrant exercise restrictions lift after approval.
  • Proceeds earmarked for working capital, general corporate purposes, and potential strategic acquisitions.


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